Capital Fund Management S.A. raised its position in Kadant Inc. (NYSE:KAI) by 40.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,600 shares of the industrial products company’s stock after buying an additional 1,600 shares during the quarter. Capital Fund Management S.A.’s holdings in Kadant were worth $538,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Epoch Investment Partners Inc. boosted its position in Kadant by 3.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 307,674 shares of the industrial products company’s stock valued at $29,075,000 after buying an additional 10,437 shares during the last quarter. BTIM Corp. bought a new position in Kadant in the 2nd quarter valued at $13,551,000. Citadel Advisors LLC boosted its position in Kadant by 831.9% in the 2nd quarter. Citadel Advisors LLC now owns 22,870 shares of the industrial products company’s stock valued at $2,199,000 after buying an additional 20,416 shares during the last quarter. American Century Companies Inc. boosted its position in Kadant by 23.9% in the 1st quarter. American Century Companies Inc. now owns 114,567 shares of the industrial products company’s stock valued at $10,827,000 after buying an additional 22,100 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Kadant by 38.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,706 shares of the industrial products company’s stock valued at $256,000 after buying an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 97.60% of the company’s stock.
In other news, CFO Michael J. Mckenney sold 5,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $103.00, for a total value of $515,000.00. Following the transaction, the chief financial officer now directly owns 11,624 shares in the company, valued at approximately $1,197,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by company insiders.
NYSE:KAI opened at $104.65 on Monday. Kadant Inc. has a 12-month low of $89.40 and a 12-month high of $114.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.87. The firm has a market capitalization of $1.14 billion, a PE ratio of 21.52 and a beta of 1.31.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.07. Kadant had a return on equity of 16.05% and a net margin of 6.15%. The business had revenue of $154.90 million for the quarter, compared to analyst estimates of $151.54 million. During the same period last year, the company earned $1.04 EPS. The firm’s revenue was up 40.6% on a year-over-year basis. analysts forecast that Kadant Inc. will post 5.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, October 11th will be given a $0.22 dividend. The ex-dividend date is Wednesday, October 10th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. Kadant’s dividend payout ratio is currently 19.60%.
A number of research analysts have commented on the company. Barrington Research set a $112.00 price objective on Kadant and gave the company a “buy” rating in a research report on Friday, June 29th. Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd.
Kadant Company Profile
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
Further Reading: Fiduciary
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