Handelsbanken Fonder AB Buys New Position in Kennametal Inc. $KMT

Handelsbanken Fonder AB bought a new stake in Kennametal Inc. (NYSE:KMT) during the 2nd quarter, Holdings Channel.com reports. The firm bought 8,774 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other large investors have also recently bought and sold shares of KMT. Bridgeway Capital Management LLC acquired a new stake in shares of Kennametal in the first quarter valued at approximately $11,801,000. Cooper Haims Advisors LLC acquired a new position in Kennametal during the first quarter worth $7,453,000. M&G PLC bought a new position in Kennametal in the second quarter valued at $7,764,000. Empowered Funds LLC acquired a new stake in Kennametal in the 1st quarter valued at $7,009,000. Finally, American Century Companies Inc. increased its stake in Kennametal by 9.2% in the 1st quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company’s stock valued at $59,179,000 after buying an additional 234,395 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Kennametal Price Performance

Shares of NYSE KMT opened at $27.68 on Monday. The firm has a market cap of $2.11 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 3.83 and a beta of 1.50. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $29.15. The business’s 50 day moving average is $23.60 and its 200-day moving average is $22.82.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.10. The business 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. Equities research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, November 10th. Kennametal’s payout ratio is presently 65.57%.

Kennametal 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.