SCHEDULE: American Century Discloses 4.1% Stake in Kennametal

American Century Investment Management, Inc., along with its parent entities, reported a 4.1% beneficial ownership stake in Kennametal Inc. as of December 31, 2025.

Summary

• American Century Investment Management, Inc., American Century Companies, Inc., and Stowers Institute for Medical Research collectively reported beneficial ownership of 3,152,571 shares of Kennametal Inc. Capital Stock.
• This aggregate amount represents 4.1% of Kennametal Inc.'s class of securities.
• The reporting entities hold sole voting power and sole dispositive power over all 3,152,571 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of Kennametal Inc.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive disclosure, reflecting continued institutional confidence in Kennametal Inc. through a significant, yet passive, ownership stake by a reputable investment firm.

Positives

• A significant institutional holding by American Century Investment Management, Inc. may signal confidence in Kennametal Inc.'s long-term prospects.
• The filing explicitly states the shares are held in the ordinary course of business and not for influencing control, suggesting a passive, long-term investment approach.

Risks

• A future reduction in this significant institutional stake could potentially signal a change in investor sentiment or strategy regarding Kennametal Inc.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

StockSavvy.ai notes that a 4.1% stake by a prominent investment manager like American Century indicates significant institutional interest in Kennametal Inc., a company operating in the industrial tools and materials sector. This level of ownership suggests a long-term investment perspective rather than an activist stance, aligning with typical passive institutional investment strategies.

Comparison to Industry Standards

• StockSavvy.ai observes that a 4.1% stake is a substantial, but non-controlling, position for an institutional investor in a publicly traded industrial company. This is a common size for significant passive holdings by large asset managers, often reflecting a belief in the company's long-term value proposition within its sector, such as manufacturing or materials technology. For example, similar stakes are often seen in companies like Illinois Tool Works (ITW) or Stanley Black & Decker (SWK) by major asset managers, indicating a strategic, non-activist investment.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by American Century may provide a level of confidence and stability, indicating that a major investor sees value in Kennametal Inc.

Key Dates

Keywords

Kennametal Inc., American Century Investment Management, Stowers Institute for Medical Research, Beneficial Ownership, Institutional Investor, Capital Stock, SEC Filing, Schedule 13G, Investment Management