Kadant Inc. (NYSE:KAI) Shares Acquired by Axa S.A.

Axa S.A. increased its stake in shares of Kadant Inc. (NYSE:KAI) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,904 shares of the industrial products company’s stock after purchasing an additional 46 shares during the quarter. Axa S.A.’s holdings in Kadant were worth $8,198,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KAI. Squarepoint Ops LLC grew its position in shares of Kadant by 51.8% during the second quarter. Squarepoint Ops LLC now owns 18,490 shares of the industrial products company’s stock worth $5,432,000 after buying an additional 6,307 shares in the last quarter. Xponance Inc. increased its position in shares of Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 37 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Kadant by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock valued at $396,438,000 after purchasing an additional 15,512 shares in the last quarter. Sei Investments Co. grew its stake in shares of Kadant by 28.4% during the second quarter. Sei Investments Co. now owns 75,004 shares of the industrial products company’s stock worth $22,035,000 after purchasing an additional 16,595 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Kadant in the second quarter valued at $176,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

Shares of KAI stock opened at $335.08 on Friday. The stock’s 50-day moving average is $320.42 and its two-hundred day moving average is $303.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 34.90 and a beta of 1.21.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The firm had revenue of $275.00 million for the quarter, compared to the consensus estimate of $263.50 million. During the same quarter last year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts predict that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KAI shares. DA Davidson upped their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research note on Friday, September 20th.

About Kadant

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.