Kadant Inc $KAI Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in Kadant Inc (NYSE:KAI) by 14.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,926 shares of the industrial products company’s stock after buying an additional 5,813 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of Kadant worth $13,667,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in Kadant in the second quarter worth about $27,000. First Horizon Corp acquired a new stake in Kadant during the third quarter valued at approximately $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Kadant during the second quarter worth approximately $31,000. Root Financial Partners LLC acquired a new position in Kadant in the third quarter worth approximately $35,000. Finally, Huntington National Bank increased its holdings in shares of Kadant by 148.0% in the second quarter. Huntington National Bank now owns 124 shares of the industrial products company’s stock valued at $39,000 after buying an additional 74 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Kadant Trading Up 0.0%

NYSE:KAI opened at $333.72 on Monday. The stock has a market cap of $3.93 billion, a PE ratio of 38.58 and a beta of 1.25. Kadant Inc has a fifty-two week low of $244.87 and a fifty-two week high of $409.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.45 and a quick ratio of 1.60. The stock’s 50-day moving average is $309.77 and its two-hundred day moving average is $304.34.

Insider Transactions at Kadant

In other news, Director Erin L. Russell sold 1,435 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $282.36, for a total transaction of $405,186.60. Following the transaction, the director directly owned 3,066 shares in the company, valued at $865,715.76. The trade was a 31.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KAI shares. Weiss Ratings restated a “hold (c)” rating on shares of Kadant in a report on Monday, December 29th. Barrington Research reissued an “outperform” rating and issued a $380.00 price target on shares of Kadant in a research note on Tuesday, February 3rd. Finally, DA Davidson set a $295.00 price objective on shares of Kadant in a research note on Monday, February 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Kadant presently has an average rating of “Hold” and a consensus price target of $337.50.

About Kadant

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.