Legal & General Group Plc Makes New Investment in Kennametal Inc. $KMT

Legal & General Group Plc bought a new stake in shares of Kennametal Inc. (NYSE:KMT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 178,113 shares of the industrial products company’s stock, valued at approximately $6,243,000. Legal & General Group Plc owned approximately 0.23% of Kennametal as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Kennametal in the second quarter valued at approximately $440,446,000. William Blair Investment Management LLC purchased a new position in shares of Kennametal during the 2nd quarter valued at $69,614,000. NFJ Investment Group LLC bought a new position in shares of Kennametal in the second quarter worth $36,202,000. Bank of New York Mellon Corp bought a new position in shares of Kennametal in the second quarter worth $33,949,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Kennametal by 36.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,887,048 shares of the industrial products company’s stock worth $39,496,000 after buying an additional 505,669 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Kennametal in a research report on Monday, August 17th. Morgan Stanley cut Kennametal from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $31.00 to $27.00 in a report on Monday, August 10th. Zacks Research downgraded Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. DA Davidson cut their price objective on Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kennametal from $40.00 to $34.00 and set an “underweight” rating on the stock in a research report on Monday, July 13th. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Kennametal presently has a consensus rating of “Reduce” and an average price target of $34.07.

Insider Buying and Selling

In other Kennametal news, VP Judith L. Bacchus sold 5,488 shares of Kennametal stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $35.94, for a total value of $197,238.72. Following the transaction, the vice president directly owned 4,554 shares of the company’s stock, valued at $163,670.76. The trade was a 54.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sagar A. Patel sold 29,499 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $33.50, for a total value of $988,216.50. The disclosure for this sale is available in the SEC filing. 1.43% of the stock is owned by insiders.

Kennametal Price Performance

Shares of NYSE:KMT opened at $29.38 on Thursday. The company has a quick ratio of 0.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2.24 billion, a PE ratio of 6.68, a PEG ratio of 0.29 and a beta of 1.34. The company’s fifty day moving average is $32.85 and its 200 day moving average is $35.57. Kennametal Inc. has a 52 week low of $20.35 and a 52 week high of $43.81.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.65. The business had revenue of $736.61 million during 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%. The company’s revenue was up 42.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. Research analysts anticipate that Kennametal Inc. will post 4.82 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, August 11th. Kennametal’s dividend payout ratio (DPR) is presently 18.18%.

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.