Tributary Capital Management said the boost to Kennametal’s profit outlook from strong tungsten prices has likely played out. Its Q2 2026 letter highlighted the company, whose tungsten-carbide cutting tools are used in transportation, heavy machinery and aerospace.
The strategy’s equity allocation returned 12.5% in Q2, versus 15.3% for the S&P 1500 and 15.4% for the Russell 3000. Its technology holdings gained 23.0%, below the S&P 1500 technology sector’s 32.3%; the letter said technology was the main driver of the strategy’s 2.8% relative underperformance.
The article reported that Kennametal shares closed at $30.07 on Sept. 24, 2026, up 43.26% over the previous year and 1.79% over the previous month.
