Sagar Patel Sells 29,499 Shares of Kennametal (NYSE:KMT) Stock

Kennametal Inc. (NYSE:KMT) Director Sagar Patel sold 29,499 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $33.50, for a total transaction of $988,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kennametal Price Performance

Shares of NYSE KMT traded up $0.34 during midday trading on Tuesday, reaching $33.59. 620,294 shares of the company were exchanged, compared to its average volume of 1,453,564. The stock’s 50-day moving average price is $36.66 and its 200-day moving average price is $34.69. The stock has a market cap of $2.56 billion, a P/E ratio of 18.94, a PEG ratio of 0.21 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 2.38 and a debt-to-equity ratio of 0.43. Kennametal Inc. has a one year low of $17.62 and a one year high of $43.81.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.02% and a net margin of 6.41%.Kennametal’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. On average, sell-side analysts anticipate that Kennametal Inc. will post 2.99 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Kennametal’s dividend payout ratio (DPR) is presently 45.20%.

Hedge Funds Weigh In On Kennametal

Several institutional investors have recently added to or reduced their stakes in the business. Cozad Asset Management Inc. bought a new stake in shares of Kennametal in the 1st quarter valued at $1,228,000. Segall Bryant & Hamill LLC bought a new position in Kennametal during the first quarter worth $5,109,000. Bank of America Corp DE grew its holdings in Kennametal by 52.7% in the first quarter. Bank of America Corp DE now owns 805,554 shares of the industrial products company’s stock worth $29,105,000 after purchasing an additional 278,170 shares during the period. Edgestream Partners L.P. acquired a new stake in Kennametal in the first quarter worth $2,958,000. Finally, Amundi increased its stake in Kennametal by 92.6% in the first quarter. Amundi now owns 47,229 shares of the industrial products company’s stock valued at $1,706,000 after purchasing an additional 22,705 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KMT. Jefferies Financial Group lowered 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 research report on Wednesday, May 20th. JPMorgan Chase & Co. raised their price target on shares of Kennametal from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Morgan Stanley lifted their price target on shares of Kennametal from $29.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Finally, Barclays cut shares of Kennametal from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $40.00 to $33.00 in a research note on Wednesday, May 27th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $35.93.

About Kennametal

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.