Kadant Inc. (NYSE:KAI) Shares Acquired by Xponance Inc.

Xponance Inc. boosted its stake in shares of Kadant Inc. (NYSE:KAI) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 744 shares of the industrial products company’s stock after purchasing an additional 37 shares during the period. Xponance Inc.’s holdings in Kadant were worth $219,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Kadant in the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Kadant in the 2nd quarter valued at about $29,000. Parallel Advisors LLC grew its holdings in shares of Kadant by 58.2% during the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 39 shares during the period. Covestor Ltd increased its position in Kadant by 31,600.0% during the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 316 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Kadant in the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Down 1.5 %

NYSE KAI opened at $326.59 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. Kadant Inc. has a fifty-two week low of $214.21 and a fifty-two week high of $363.40. The business has a 50 day moving average price of $319.81 and a two-hundred day moving average price of $303.87. The stock has a market cap of $3.84 billion, a PE ratio of 34.02 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 for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. During the same period last year, the business earned $2.54 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts predict that Kadant Inc. will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

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 issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s dividend payout ratio is currently 13.33%.

Analyst Ratings Changes

Several research firms have recently issued reports on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research report on Friday, September 20th. DA Davidson increased 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.

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Kadant 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.