Hennessy Advisors Inc. Sells 22,800 Shares of Kennametal Inc. $KMT

Hennessy Advisors Inc. trimmed its position in shares of Kennametal Inc. (NYSE:KMT) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 233,700 shares of the industrial products company’s stock after selling 22,800 shares during the period. Hennessy Advisors Inc. owned 0.31% of Kennametal worth $7,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Kennametal in the 2nd quarter valued at $440,446,000. William Blair Investment Management LLC bought a new position in Kennametal during the 2nd quarter valued at about $69,614,000. Medina Value Partners LLC bought a new position in Kennametal during the 2nd quarter valued at about $43,007,296. NFJ Investment Group LLC acquired a new position in Kennametal in the second quarter valued at about $36,202,000. Finally, Bank of New York Mellon Corp acquired a new position in Kennametal in the second quarter valued at about $33,949,000.

Analyst Upgrades and Downgrades

KMT has been the subject of a number of research reports. DA Davidson lowered their price target on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. UBS Group lowered their target price on Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. dropped their target price on Kennametal from $34.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, October 8th. Finally, Morgan Stanley lowered Kennametal from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $31.00 to $27.00 in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $33.50.

Kennametal Stock Performance

Shares of KMT stock opened at $29.14 on Monday. The stock has a market cap of $2.23 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.62 and a quick ratio of 0.98. The company has a fifty day moving average price of $30.40 and a two-hundred day moving average price of $34.59. Kennametal Inc. has a one year low of $21.70 and a one year high of $43.81.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.65. The company had revenue of $736.61 million for the quarter, compared to analyst estimates of $725.74 million. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. Kennametal’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. As a group, equities analysts predict that Kennametal Inc. will post 4.92 EPS for the current year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.80 annualized dividend and a yield of 2.7%. Kennametal’s dividend payout ratio is currently 18.18%.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average price of $29.10 per share, for a total transaction of $203,700.00. Following the purchase, the chief executive officer owned 246,839 shares in the company, valued at approximately $7,183,014.90. The trade was a 2.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Judith L. Bacchus sold 9,676 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $30.29, for a total value of $293,086.04. Following the sale, the vice president directly owned 15,721 shares of the company’s stock, valued at $476,189.09. This represents a 38.10% decrease in their position. The SEC filing for this sale provides additional information. 1.65% of the stock is owned by corporate insiders.

About Kennametal

Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company’s offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.