3,950 Shares in Kadant Inc. (NYSE:KAI) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Kadant Inc. (NYSE:KAI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,950 shares of the industrial products company’s stock, valued at approximately $1,160,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Kadant by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock worth $92,355,000 after purchasing an additional 5,700 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Kadant by 61.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 14,573 shares of the industrial products company’s stock worth $4,281,000 after purchasing an additional 5,531 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Kadant by 55.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 35,000 shares of the industrial products company’s stock worth $10,204,000 after purchasing an additional 12,500 shares during the period. Arizona State Retirement System lifted its holdings in shares of Kadant by 1.9% during the second quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company’s stock worth $963,000 after purchasing an additional 62 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Kadant by 4.0% during the second quarter. Rhumbline Advisers now owns 19,031 shares of the industrial products company’s stock worth $5,591,000 after purchasing an additional 726 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on KAI shares. Barrington Research reissued an “outperform” rating and issued a $360.00 price target on shares of Kadant in a report on Friday. DA Davidson boosted their price target on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

Kadant Trading Down 2.6 %

Shares of NYSE:KAI opened at $332.85 on Friday. Kadant Inc. has a 12-month low of $214.21 and a 12-month high of $363.40. The company has a market capitalization of $3.91 billion, a PE ratio of 34.67 and a beta of 1.21. The business has a 50 day moving average of $320.19 and a two-hundred day moving average of $303.37. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. The business had revenue of $275.00 million during the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, analysts forecast that Kadant Inc. will post 9.93 EPS for the current year.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is presently 13.33%.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.