Prudential Financial Inc. Grows Holdings in Kennametal Inc. $KMT

by · The Markets Daily

Prudential Financial Inc. grew its position in shares of Kennametal Inc. (NYSE:KMT – Free Report) by 106.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 156,932 shares of the industrial products company’s stock after purchasing an additional 80,897 shares during the quarter. Prudential Financial Inc.’s holdings in Kennametal were worth $3,603,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in shares of Kennametal during the second quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. raised its holdings in 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 acquiring an additional 860 shares during the last quarter. US Bancorp DE raised its holdings in Kennametal by 93.4% in the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,036 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Kennametal by 293.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,606 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Kennametal by 179.2% during the second quarter. First Horizon Advisors Inc. now owns 2,675 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 1,717 shares during the last quarter.

Analysts Set New Price Targets

KMT has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Kennametal from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 7th. Zacks Research upgraded Kennametal from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Wall Street Zen raised 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 research report on Wednesday, October 8th. Finally, Barclays upped their price target on shares of Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kennametal currently has an average rating of “Hold” and a consensus price target of $25.83.

Get Our Latest Stock Analysis on Kennametal

Kennametal Trading Up 0.7%

NYSE:KMT opened at $27.65 on Wednesday. The business’s 50-day moving average is $23.86 and its two-hundred day moving average is $22.90. The firm has a market capitalization of $2.10 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 3.83 and a beta of 1.50. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $29.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19.

Kennametal (NYSE:KMT – Get Free Report) last issued its 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 company had revenue of $497.97 million during the quarter, compared to the consensus estimate of $477.68 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 earnings per share. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. Research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.80 annualized dividend and a yield of 2.9%. Kennametal’s dividend payout ratio (DPR) 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.

Further Reading

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