Prudential Financial Inc. Raises Position in Kennametal Inc. $KMT

Prudential Financial Inc. increased its stake in Kennametal Inc. by 106.4% in Q2, owning 156,932 shares worth $3.6M. Analysts have mixed ratings, with a consensus 'Hold' and average price target of $25.83. Kennametal's stock opened at $27.65, with a market cap of $2.10B. The company reported Q2 earnings of $0.34 per share, beating estimates, and announced a $0.20 dividend. Other investors also adjusted their positions in Kennametal.

Prudential Financial Inc. lifted its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 106.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,932 shares of the industrial products company's stock after acquiring an additional 80,897 shares during the quarter. Prudential Financial Inc. owned 0.21% of Kennametal worth $3,603,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its holdings in Kennametal by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,895 shares of the industrial products company's stock valued at $801,000 after purchasing an additional 745 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Kennametal by 1.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 88,508 shares of the industrial products company's stock valued at $2,032,000 after buying an additional 855 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Kennametal by 116.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,600 shares of the industrial products company's stock valued at $37,000 after buying an additional 860 shares during the period. US Bancorp DE boosted its stake in shares of Kennametal by 93.4% in the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company's stock valued at $46,000 after buying an additional 1,036 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Kennametal by 5.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,572 shares of the industrial products company's stock worth $449,000 after acquiring an additional 1,059 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on KMT shares. Barclays raised their target price on Kennametal from $22.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, November 7th. Wall Street Zen upgraded shares of Kennametal from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of Kennametal in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Kennametal from $22.00 to $25.00 and gave the company an "underweight" rating in a report on Friday, November 7th. Finally, UBS Group lifted their price target on shares of Kennametal from $21.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and an average price target of $25.83.

Check Out Our Latest Stock Analysis on Kennametal

Kennametal Stock Performance

NYSE:KMT opened at $27.65 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.10 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 3.83 and a beta of 1.50. The firm has a 50-day moving average price of $23.86 and a two-hundred day moving average price of $22.90. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $29.05.

Kennametal (NYSE:KMT - Get Free Report) last released 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. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business had revenue of $497.97 million for the quarter, compared to analyst estimates of $477.68 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company's quarterly revenue was up 3.3% on a year-over-year basis. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. As a group, research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, November 10th. Kennametal's dividend payout ratio is 65.57%.

Kennametal Company Profile

(Free Report)

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.

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