GSA Capital Partners LLP lessened its position in Kadant Inc (NYSE:KAI) by 56.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,972 shares of the industrial products company’s stock after selling 5,073 shares during the period. GSA Capital Partners LLP’s holdings in Kadant were worth $299,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Kadant in the 2nd quarter valued at $127,000. BNP Paribas Arbitrage SA raised its holdings in shares of Kadant by 718.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock valued at $131,000 after buying an additional 1,530 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Kadant by 30.0% in the first quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock valued at $176,000 after buying an additional 686 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Kadant in the first quarter valued at about $203,000. Finally, Tudor Investment Corp ET AL bought a new stake in Kadant during the 1st quarter worth about $290,000. Institutional investors own 90.94% of the company’s stock.
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In other news, Director William P. Tully sold 1,250 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $89.60, for a total value of $112,000.00. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.59% of the company’s stock.
Kadant Inc (NYSE:KAI) traded down 0.29% during trading on Friday, reaching $101.95. The company’s stock had a trading volume of 6,884 shares. The company’s 50-day moving average is $96.38 and its 200-day moving average is $80.85. Kadant Inc has a 12 month low of $50.96 and a 12 month high of $103.70. The stock has a market cap of $1.12 billion, a PE ratio of 33.66 and a beta of 1.36.
Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The firm had revenue of $110.24 million for the quarter, compared to the consensus estimate of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities analysts expect that Kadant Inc will post $4.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.82%. Kadant’s dividend payout ratio (DPR) is currently 27.72%.
Several analysts have weighed in on the company. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a report on Saturday, August 5th. BidaskClub cut Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Kadant presently has an average rating of “Hold” and a consensus target price of $95.33.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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