Kadant Inc (KAI) Holdings Maintained by Dean Investment Associates LLC
Dean Investment Associates LLC maintained its stake in shares of Kadant Inc (NYSE:KAI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,640 shares of the industrial products company’s stock at the end of the second quarter. Dean Investment Associates LLC owned approximately 0.76% of Kadant worth $4,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Kadant by 27.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 93,176 shares of the industrial products company’s stock valued at $7,008,000 after buying an additional 19,918 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Kadant by 53.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 89,074 shares of the industrial products company’s stock valued at $6,698,000 after buying an additional 30,854 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Kadant by 476.6% in the 2nd quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock valued at $10,703,000 after buying an additional 117,641 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Kadant by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 13,400 shares of the industrial products company’s stock valued at $1,008,000 after buying an additional 1,300 shares during the period. Finally, Kennedy Capital Management Inc. lifted its holdings in shares of Kadant by 9.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 46,242 shares of the industrial products company’s stock valued at $3,477,000 after buying an additional 3,886 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on KAI shares. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Sidoti reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Kadant in a report on Saturday, June 3rd. BidaskClub cut Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Barrington Research upped their price target on Kadant from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $82.00.
Kadant Inc (NYSE KAI) traded up 0.67% during trading on Wednesday, reaching $90.65. The company had a trading volume of 17,258 shares. The stock has a market capitalization of $997.51 million, a price-to-earnings ratio of 29.93 and a beta of 1.33. Kadant Inc has a 1-year low of $49.20 and a 1-year high of $91.10. The firm has a 50-day moving average of $84.03 and a 200-day moving average of $72.15.
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. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The firm had revenue of $110.24 million for the quarter, compared to analyst estimates of $113.49 million. During the same quarter last year, the company posted $0.88 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Kadant Inc will post $4.03 EPS for the current fiscal year.
Kadant announced that its Board of Directors has approved a share buyback plan on Wednesday, May 17th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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