Kennametal (NYSE:KMT – Get Free Report) had its price objective dropped by analysts at JPMorgan Chase & Co. from $40.00 to $34.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.85% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price objective on the stock. in a report on Thursday, May 7th. Zacks Research upgraded shares of Kennametal from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. DA Davidson initiated coverage on Kennametal in a report on Tuesday, June 16th. They issued a “neutral” rating and a $34.00 target price on the stock. Barclays downgraded Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $40.00 to $33.00 in a report on Wednesday, May 27th. Finally, Weiss Ratings downgraded Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.50.
Check Out Our Latest Stock Analysis on KMT
Kennametal Stock Up 0.3%
Kennametal (NYSE:KMT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. Kennametal had a return on equity of 11.02% and a net margin of 6.41%.The business had revenue of $592.59 million during the quarter, compared to the consensus estimate of $568.03 million. During the same period in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. On average, sell-side analysts anticipate that Kennametal will post 3.23 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, VP Carlonda R. Reilly sold 12,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $33.12, for a total transaction of $397,870.56. Following the transaction, the vice president directly owned 25,143 shares in the company, valued at approximately $832,736.16. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Judith L. Bacchus sold 5,488 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $35.94, for a total transaction of $197,238.72. Following the completion of the sale, the vice president owned 4,554 shares of the company’s stock, valued at approximately $163,670.76. This trade represents a 54.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,000 shares of company stock worth $1,583,326 in the last quarter. 1.43% of the stock is owned by insiders.
Institutional Investors Weigh In On Kennametal
Hedge funds have recently made changes to their positions in the business. Ausbil Investment Management Ltd lifted its stake in shares of Kennametal by 56.2% in the 2nd quarter. Ausbil Investment Management Ltd now owns 35,347 shares of the industrial products company’s stock worth $1,188,000 after acquiring an additional 12,724 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Kennametal in the 2nd quarter valued at approximately $203,000. Cozad Asset Management Inc. acquired a new stake in shares of Kennametal in the 1st quarter valued at approximately $1,228,000. Segall Bryant & Hamill LLC acquired a new position in Kennametal during the first quarter worth $5,109,000. Finally, Bank of America Corp DE lifted 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 valued at $29,105,000 after acquiring an additional 278,170 shares during the period.
Kennametal Company Profile
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.
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