Morgan Stanley Cuts Kennametal (NYSE:KMT) Price Target to $31.00

Kennametal (NYSE:KMT) had its price objective reduced by Morgan Stanley from $36.00 to $31.00 in a research report sent to investors on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

KMT has been the subject of a number of other research reports. DA Davidson started coverage on shares of Kennametal in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $34.00 target price for the company. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price target on the stock. in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Barclays cut Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $40.00 to $33.00 in a report on Wednesday, May 27th. Finally, Zacks Research downgraded Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $35.79.

Kennametal Trading Up 0.4%

NYSE KMT opened at $33.87 on Friday. Kennametal has a 52 week low of $17.62 and a 52 week high of $43.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 2.38. The stock’s 50 day moving average price is $34.62 and its two-hundred day moving average price is $36.01. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 0.22 and a beta of 1.36.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.41% and a return on equity of 11.02%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. As a group, analysts anticipate that Kennametal will post 3.23 earnings per share for the current fiscal year.

Kennametal Announces Dividend

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

Insiders Place Their Bets

In other Kennametal news, Director Sagar A. Patel sold 29,499 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $33.50, for a total transaction of $988,216.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Carlonda R. Reilly sold 12,013 shares of the stock in a transaction 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 completion of the sale, the vice president owned 25,143 shares of the company’s stock, valued at approximately $832,736.16. This represents a 32.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,000 shares of company stock valued at $1,583,326. 1.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kennametal

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Kennametal by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,750,538 shares of the industrial products company’s stock valued at $134,964,000 after buying an additional 96,888 shares during the period. State Street Corp boosted its stake in shares of Kennametal by 0.3% during the 4th quarter. State Street Corp now owns 2,899,770 shares of the industrial products company’s stock worth $82,382,000 after acquiring an additional 9,963 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Kennametal by 15.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company’s stock worth $83,039,000 after acquiring an additional 307,209 shares during the period. Wellington Management Group LLP increased its holdings in shares of Kennametal by 20.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,546,374 shares of the industrial products company’s stock worth $32,366,000 after acquiring an additional 265,664 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of Kennametal by 3.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,343,451 shares of the industrial products company’s stock worth $38,167,000 after acquiring an additional 47,839 shares during the last quarter.

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.