Kennametal (NYSE:KMT) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Kennametal (NYSE:KMT) had its target price cut by JPMorgan Chase & Co. from $34.00 to $30.00 in a research note released on Thursday,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

Several other research firms have also issued reports on KMT. DA Davidson decreased their price target on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kennametal in a research report on Monday, August 17th. UBS Group reduced their price objective on Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Zacks Research upgraded Kennametal from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. Finally, Morgan Stanley lowered Kennametal from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $31.00 to $27.00 in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Kennametal presently has an average rating of “Reduce” and an average price target of $33.50.

Kennametal Stock Performance

NYSE:KMT opened at $31.93 on Thursday. Kennametal has a twelve month low of $20.38 and a twelve month high of $43.81. The company has a current ratio of 2.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $30.88 and a 200-day moving average of $34.06. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 0.31 and a beta of 1.33.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.65. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The company had revenue of $736.61 million for the quarter, compared to analysts’ expectations of $725.74 million. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 42.6% compared to the same quarter last year. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. Analysts forecast that Kennametal will post 4.92 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 11th. Kennametal’s dividend payout ratio is 18.18%.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey bought 7,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $29.10 per share, with a total value of $203,700.00. Following the purchase, the chief executive officer directly owned 246,839 shares in the company, valued at $7,183,014.90. This trade represents a 2.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Judith L. Bacchus sold 9,676 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $30.29, for a total value of $293,086.04. Following the completion of the sale, the vice president owned 15,721 shares of the company’s stock, valued at $476,189.09. The trade was a 38.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KMT. BlackRock Inc. purchased a new stake in Kennametal in the 2nd quarter worth about $440,446,000. Arrowstreet Capital Limited Partnership grew its stake in Kennametal by 15.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company’s stock valued at $83,039,000 after acquiring an additional 307,209 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at about $69,614,000. Medina Value Partners LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at about $43,007,296. Finally, NFJ Investment Group LLC purchased a new stake in shares of Kennametal in the second quarter worth approximately $36,202,000.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components, and wear-resistant solutions. Its products are designed to help customers machine, shape, and protect materials used in demanding industrial applications.

The company’s offerings include cutting tools and tooling systems for metalworking, as well as engineered components, advanced materials, and surface technologies intended to improve durability and performance.