Kennametal Inc is a global industrial technology company that specializes in manufacturing cutting tools, tooling systems, and materials used in metalworking, mining, and other industrial applications
The company focuses on providing advanced solutions that enhance productivity and efficiency for its customers across various sectors, including aerospace, automotive, energy, and general manufacturing. Kennametal is known for its innovation in materials science and engineering, delivering high-performance products that help businesses optimize their processes and reduce operational costs. Through a commitment to sustainability and technological advancement, Kennametal aims to drive growth and support the evolving needs of the industries it serves.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how professional tools and equipment stocks fared in Q3, starting with Fortive (NYSEFTV).
Over the past six months, Kennametal’s stock price fell to $23.77. Shareholders have lost 7% of their capital, which is disappointing considering the S&P 500 has climbed by 10.4%. This may have investors wondering how to approach the situation.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Snap-on (NYSESNA) and its peers.
With an 86-year history in the metal cutting business, Pittsburgh, Pa.-based Kennametal Inc. (KMT) is just the kind of company you might expect to find in “Steel Town.”
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Kennametal (NYSEKMT) and its peers.
Shares of industrial materials and tools company Kennametal (NYSEKMT)
jumped 19.4% in the morning session after the company reported strong third-quarter earnings. Kennametal provided a full-year EPS forecast, which blew past analysts' expectations. EPS also outperformed Wall Street's estimates during the quarter. On the other hand, its EPS forecast for next quarter missed and its revenue fell short of Wall Street's estimates. Overall, this quarter was mixed but the strong full year EPS guidance seems to be lifting shares.
Industrial materials and tools company Kennametal (NYSEKMT) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 2.1% year on year to $481.9 million. The company expects next quarter’s revenue to be around $490 million, slightly below analysts’ estimates. Its non-GAAP profit of $0.29 per share was 13.4% above analysts’ consensus estimates.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
Investors eagerly anticipate the dividend payout from Kennametal (NYSEKMT) on February 27, 2024. With a payout of $0.20 per share and an annualized dividend yield of 3.16%, this reward is exclusively for shareholders who held the stock before the ex-dividend date on February 12, 2024
