Susquehanna Portfolio Strategies LLC Trims Stock Position in Kadant Inc. (NYSE:KAI)

Susquehanna Portfolio Strategies LLC trimmed its stake in shares of Kadant Inc. (NYSE:KAI) by 50.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,323 shares of the industrial products company’s stock after selling 2,321 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Kadant were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Kadant during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new position in Kadant during the 2nd quarter worth $29,000. Parallel Advisors LLC lifted its stake in shares of Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 39 shares during the period. Covestor Ltd lifted its stake in shares of Kadant by 31,600.0% in the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 316 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Kadant in the first quarter valued at about $141,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KAI has been the subject of several analyst reports. DA Davidson increased their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Friday, September 20th.

Kadant Price Performance

Shares of NYSE KAI opened at $335.08 on Friday. 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 one year low of $214.21 and a one year high of $363.40. The firm has a market capitalization of $3.93 billion, a P/E ratio of 34.90 and a beta of 1.21. The company’s fifty day moving average is $320.42 and its two-hundred day moving average is $303.62.

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

Kadant Announces Dividend

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