Apollo Management Holdings L.P. Makes New $8.79 Million Investment in Kennametal Inc. $KMT

Apollo Management Holdings L.P. purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 383,010 shares of the industrial products company’s stock, valued at approximately $8,794,000. Kennametal makes up about 0.1% of Apollo Management Holdings L.P.’s investment portfolio, making the stock its 24th biggest position. Apollo Management Holdings L.P. owned approximately 0.50% of Kennametal as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KMT. US Bancorp DE increased its stake in shares of Kennametal by 93.4% in the first 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kennametal by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company’s stock worth $32,570,000 after purchasing an additional 49,496 shares during the period. Nuveen LLC bought a new stake in shares of Kennametal in the 1st quarter valued at $3,949,000. Public Sector Pension Investment Board boosted its stake in shares of Kennametal by 26.7% in the 1st quarter. Public Sector Pension Investment Board now owns 245,324 shares of the industrial products company’s stock valued at $5,225,000 after purchasing an additional 51,654 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Kennametal during the first quarter worth $259,000.

Analyst Upgrades and Downgrades

KMT has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Kennametal from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. Zacks Research raised Kennametal from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded Kennametal from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 29th. Finally, UBS Group increased their price target on Kennametal from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.60.

Kennametal Price Performance

Kennametal stock opened at $29.36 on Friday. The business’s 50 day simple moving average is $25.04 and its 200 day simple moving average is $23.28. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $29.89. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 3.92 and a beta of 1.48. The company has a current ratio of 2.60, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.10. The firm had revenue of $497.97 million for the quarter, compared to analyst estimates of $477.68 million. Kennametal had a return on equity of 8.35% and a net margin of 4.76%.The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. Sell-side analysts forecast that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, November 10th. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Kennametal Profile

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.