Kennametal (NYSE:KMT) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Kennametal (NYSE:KMT) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12, FiscalAI reports. The firm had revenue of $529.53 million during the quarter, compared to analyst estimates of $514.70 million. Kennametal had a return on equity of 8.35% and a net margin of 4.76%.The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS.

Kennametal Stock Up 12.8%

NYSE:KMT traded up $4.58 during trading hours on Wednesday, hitting $40.34. 198,724 shares of the company’s stock traded hands, compared to its average volume of 1,066,572. The stock’s fifty day moving average price is $30.57 and its two-hundred day moving average price is $25.51. The firm has a market cap of $3.07 billion, a P/E ratio of 33.01, a P/E/G ratio of 4.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 2.60. Kennametal has a twelve month low of $17.30 and a twelve month high of $39.50.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Kennametal’s payout ratio is currently 65.57%.

Analyst Ratings Changes

KMT has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Kennametal from $25.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded shares of Kennametal from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Morgan Stanley increased their price objective on Kennametal from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. The Goldman Sachs Group restated a “sell” rating and issued a $28.00 target price on shares of Kennametal in a report on Tuesday, January 27th. Finally, Zacks Research raised Kennametal from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and an average target price of $29.67.

Institutional Trading of Kennametal

A number of hedge funds have recently made changes to their positions in KMT. Arrowstreet Capital Limited Partnership grew its position in Kennametal by 36.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,887,048 shares of the industrial products company’s stock valued at $39,496,000 after purchasing an additional 505,669 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Kennametal by 195.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 472,940 shares of the industrial products company’s stock valued at $10,859,000 after buying an additional 312,769 shares during the period. Wellington Management Group LLP grew 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 valued at $32,366,000 after acquiring an additional 265,664 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Kennametal by 240.2% in the second quarter. Balyasny Asset Management L.P. now owns 347,521 shares of the industrial products company’s stock worth $7,979,000 after acquiring an additional 245,374 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Kennametal by 92.3% during the third quarter. Bank of America Corp DE now owns 493,283 shares of the industrial products company’s stock worth $10,324,000 after acquiring an additional 236,736 shares in 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.