C M Bidwell & Associates Ltd. Buys Shares of 2,335 Kadant Inc (KAI)
C M Bidwell & Associates Ltd. bought a new position in Kadant Inc (NYSE:KAI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,335 shares of the industrial products company’s stock, valued at approximately $176,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in Kadant by 30.0% in the first quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock worth $176,000 after buying an additional 686 shares during the period. BTIM Corp. acquired a new position in shares of Kadant during the second quarter valued at $7,562,000. Credit Suisse AG increased its holdings in shares of Kadant by 32.8% during the first quarter. Credit Suisse AG now owns 16,648 shares of the industrial products company’s stock valued at $988,000 after purchasing an additional 4,110 shares during the period. Kennedy Capital Management Inc. increased its holdings in shares of Kadant by 9.2% during the second quarter. Kennedy Capital Management Inc. now owns 46,242 shares of the industrial products company’s stock valued at $3,477,000 after purchasing an additional 3,886 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Kadant by 4.5% during the first quarter. Vanguard Group Inc. now owns 455,242 shares of the industrial products company’s stock valued at $27,019,000 after purchasing an additional 19,603 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.
KAI has been the topic of a number of research analyst reports. Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $95.33.
In other Kadant news, Director William P. Tully sold 1,250 shares of the business’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 owns 5,250 shares of the company’s stock, valued at $470,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.59% of the stock is currently owned by insiders.
Shares of Kadant Inc (NYSE KAI) remained flat at $98.80 on Tuesday. 3,213 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $91.32 and a 200 day moving average price of $77.37. Kadant Inc has a 12-month low of $49.20 and a 12-month high of $100.99. The firm has a market capitalization of $1.09 billion, a P/E ratio of 32.62 and a beta of 1.35.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $110.24 million for the quarter, compared to analyst estimates of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts forecast that Kadant Inc will post $4.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Wednesday, October 11th. Kadant’s dividend payout ratio is currently 27.72%.
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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