Wealth Alliance Grows Stock Position in Kadant Inc. (NYSE:KAI)

Wealth Alliance increased its holdings in Kadant Inc. (NYSE:KAI) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 718 shares of the industrial products company’s stock after acquiring an additional 47 shares during the period. Wealth Alliance’s holdings in Kadant were worth $211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KAI. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Kadant during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant during the second quarter valued at about $29,000. Parallel Advisors LLC lifted its holdings 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 last quarter. Covestor Ltd boosted its position in shares of 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 during the period. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Kadant during the 1st quarter worth approximately $141,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KAI. DA Davidson upped their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note 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.

Kadant Stock Performance

Shares of KAI stock opened at $332.85 on Friday. The stock has a market capitalization of $3.91 billion, a PE ratio of 34.67 and a beta of 1.21. 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 52 week low of $214.21 and a 52 week high of $363.40. The firm has a 50 day moving average of $320.19 and a two-hundred day moving average of $303.37.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $275.00 million for the quarter, compared to analyst estimates of $263.50 million. During the same quarter last year, the company earned $2.54 EPS. Kadant’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts predict that Kadant Inc. will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be given 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 presently 13.33%.

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.