Kadant Inc (KAI) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC grew its stake in shares of Kadant Inc (NYSE:KAI) by 476.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,325 shares of the industrial products company’s stock after purchasing an additional 117,641 shares during the period. Teachers Advisors LLC owned approximately 1.29% of Kadant worth $10,703,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of Kadant by 30.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 686 shares during the period. BTIM Corp. purchased a new position in shares of Kadant in the 2nd quarter valued at about $7,562,000. Credit Suisse AG increased its holdings in shares of Kadant by 32.8% in the 1st 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 in the last quarter. AXA increased its holdings in shares of Kadant by 91.1% in the 1st quarter. AXA now owns 37,760 shares of the industrial products company’s stock valued at $2,241,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Kadant by 4.5% in 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. Institutional investors own 90.69% of the company’s stock.
Kadant Inc (KAI) opened at 98.55 on Monday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 32.54 and a beta of 1.35. The company has a 50-day moving average price of $86.49 and a 200 day moving average price of $73.48. Kadant Inc has a 1-year low of $49.20 and a 1-year high of $99.57.
Kadant (NYSE:KAI) last released its quarterly earnings results 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 the consensus estimate of $113.49 million. Kadant had a net margin of 8.10% and a return on equity of 12.68%. Kadant’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, equities analysts predict that Kadant Inc will post $4.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, October 11th. Kadant’s dividend payout ratio (DPR) is presently 27.72%.
In related news, Director William P. Tully sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the transaction, the director now owns 5,250 shares in the company, valued at $470,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.59% of the stock is owned by company insiders.
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A number of research firms recently commented on KAI. ValuEngine raised shares of Kadant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 target price on the stock in a research report on Saturday, August 5th. Finally, BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $93.00.
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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