JPMorgan Chase & Co. Issues Positive Forecast for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its price objective increased by JPMorgan Chase & Co. from $22.00 to $25.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the industrial products company’s stock.

A number of other research firms have also recently weighed in on KMT. Weiss Ratings reissued a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. UBS Group raised Kennametal from a “sell” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Barclays raised their target price on Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Zacks Research upgraded Kennametal from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $24.67.

Kennametal Stock Performance

Kennametal stock traded up $0.24 during mid-day trading on Friday, reaching $26.30. The company had a trading volume of 970,864 shares, compared to its average volume of 1,032,694. The company has a 50 day moving average of $21.86 and a 200-day moving average of $22.07. Kennametal has a 52 week low of $17.30 and a 52 week high of $30.36. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.83 and a beta of 1.50.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.24 by $0.10. The firm had revenue of $497.97 million during the quarter, compared to analysts’ expectations of $477.68 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. On average, sell-side analysts expect that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. Kennametal’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Kennametal

Several large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its position in shares of Kennametal by 21.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,537 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 446 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Kennametal by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,159 shares of the industrial products company’s stock valued at $129,000 after buying an additional 461 shares in the last quarter. Headlands Technologies LLC boosted its stake in Kennametal by 80.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 682 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Kennametal by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 34,895 shares of the industrial products company’s stock worth $801,000 after buying an additional 745 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Kennametal by 3.4% during the 3rd quarter. Amalgamated Bank now owns 22,625 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 751 shares in the last quarter.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.