Principal Financial Group Inc. Sells 138,634 Shares of Kennametal Inc. $KMT

Principal Financial Group Inc. lowered its position in Kennametal Inc. (NYSE:KMT) by 27.2% in the 1st quarter, HoldingsChannel reports. The fund owned 370,331 shares of the industrial products company’s stock after selling 138,634 shares during the period. Principal Financial Group Inc.’s holdings in Kennametal were worth $13,380,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Kennametal by 36.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,887,048 shares of the industrial products company’s stock valued at $39,496,000 after purchasing an additional 505,669 shares during the last quarter. Medina Value Partners LLC increased its stake in shares of Kennametal by 72.7% in the fourth quarter. Medina Value Partners LLC now owns 968,294 shares of the industrial products company’s stock worth $27,509,000 after purchasing an additional 407,487 shares in the last quarter. UBS Group AG increased its stake in shares of Kennametal by 190.1% in the fourth quarter. UBS Group AG now owns 538,321 shares of the industrial products company’s stock worth $15,294,000 after purchasing an additional 352,726 shares in the last quarter. Marshall Wace LLP raised its position in shares of Kennametal by 776.9% in the fourth quarter. Marshall Wace LLP now owns 375,839 shares of the industrial products company’s stock valued at $10,678,000 after purchasing an additional 332,981 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of Kennametal by 195.3% in the second quarter. Cubist Systematic Strategies LLC now owns 472,940 shares of the industrial products company’s stock valued at $10,859,000 after purchasing an additional 312,769 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KMT shares. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price objective for the company. in a report on Thursday, May 7th. Weiss Ratings cut shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Morgan Stanley dropped their target price on Kennametal from $36.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, July 17th. Barclays lowered Kennametal from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $40.00 to $33.00 in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. reduced their price target on Kennametal from $40.00 to $34.00 and set an “underweight” rating for the company in a research report on Monday, July 13th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Kennametal has a consensus rating of “Reduce” and a consensus price target of $35.79.

Kennametal Trading Up 1.0%

Shares of Kennametal stock opened at $35.23 on Friday. The company’s 50-day moving average price is $34.52 and its 200-day moving average price is $36.17. The company has a current ratio of 2.38, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Kennametal Inc. has a 12-month low of $17.62 and a 12-month high of $43.81. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.60 and a beta of 1.36.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.68 by $0.09. The company had revenue of $592.59 million during the quarter, compared to analysts’ expectations of $568.03 million. Kennametal had a net margin of 6.41% and a return on equity of 11.02%. Kennametal’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. On average, equities analysts expect that Kennametal Inc. will post 3.23 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, May 12th. Kennametal’s payout ratio is 45.20%.

Insider Activity

In related news, VP Carlonda R. Reilly sold 12,013 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $33.12, for a total value of $397,870.56. Following the sale, the vice president owned 25,143 shares in the company, valued at approximately $832,736.16. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Judith L. Bacchus sold 5,488 shares of Kennametal stock in a transaction on Monday, June 15th. The shares were sold at an average price of $35.94, for a total value of $197,238.72. Following the sale, the vice president directly owned 4,554 shares of the company’s stock, valued at $163,670.76. This represents a 54.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 47,000 shares of company stock worth $1,583,326 in the last three months. Corporate insiders own 1.43% of the company’s stock.

Kennametal Profile

Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.

The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.