Bank of New York Mellon Corp Purchases 14,451 Shares of Kennametal Inc. $KMT

Bank of New York Mellon Corp grew its holdings in shares of Kennametal Inc. (NYSE:KMT) by 1.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,089,641 shares of the industrial products company’s stock after purchasing an additional 14,451 shares during the quarter. Bank of New York Mellon Corp owned about 1.43% of Kennametal worth $25,018,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of KMT. Ameritas Advisory Services LLC bought a new stake in shares of Kennametal in the second quarter valued at approximately $27,000. US Bancorp DE grew its stake 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 buying an additional 1,036 shares in the last quarter. GAMMA Investing LLC raised its holdings in Kennametal by 293.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,606 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Kennametal during the first quarter worth $64,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Kennametal during the second quarter worth $78,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research upgraded Kennametal from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Kennametal from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 7th. Barclays increased their price target on shares of Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, UBS Group raised their price objective on shares of Kennametal from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.83.

Kennametal Stock Performance

NYSE:KMT opened at $26.94 on Friday. The business’s 50-day moving average price is $22.44 and its two-hundred day moving average price is $22.37. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $29.84. The stock has a market cap of $2.05 billion, a P/E ratio of 22.45, a PEG ratio of 3.83 and a beta of 1.50. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.34 EPS 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 analyst estimates of $477.68 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.Kennametal’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. As a group, equities analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, November 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. Kennametal’s dividend payout ratio (DPR) is 65.57%.

About Kennametal

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.