Kadant Inc. (NYSE:KAI) Short Interest Down 18.9% in April


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Kadant Inc. (NYSE:KAI) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 187,400 shares, a decrease of 18.9% from the March 31st total of 231,100 shares. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is currently 4.2 days.

In other news, VP Stacy D. Krause sold 1,280 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $177.06, for a total transaction of $226,636.80. Following the sale, the vice president now directly owns 2,751 shares in the company, valued at approximately $487,092.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of KAI. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Kadant by 2.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 25,893 shares of the industrial products company’s stock worth $2,277,000 after acquiring an additional 638 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Kadant during the 3rd quarter worth $288,000. Sei Investments Co. boosted its stake in shares of Kadant by 13.1% during the 3rd quarter. Sei Investments Co. now owns 24,830 shares of the industrial products company’s stock worth $2,722,000 after acquiring an additional 2,880 shares in the last quarter. Riverbridge Partners LLC boosted its stake in shares of Kadant by 12.3% during the 4th quarter. Riverbridge Partners LLC now owns 234,603 shares of the industrial products company’s stock worth $33,074,000 after acquiring an additional 25,681 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Kadant by 26.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,790 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 590 shares in the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.

NYSE KAI traded up $1.00 on Tuesday, reaching $180.02. 34,774 shares of the stock traded hands, compared to its average volume of 44,051. The firm’s fifty day simple moving average is $180.82 and its 200 day simple moving average is $152.08. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 43.59, a P/E/G ratio of 3.54 and a beta of 1.38. Kadant has a 12 month low of $77.82 and a 12 month high of $189.40.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $172.46 million during the quarter, compared to analyst estimates of $170.02 million. Kadant had a return on equity of 12.57% and a net margin of 7.35%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. As a group, equities research analysts forecast that Kadant will post 4.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 12th. Shareholders of record on Wednesday, April 14th will be paid a dividend of $0.25 per share. This is a positive change from Kadant’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, April 13th. Kadant’s dividend payout ratio (DPR) is presently 18.66%.

Several research firms recently commented on KAI. Barrington Research raised their target price on Kadant from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Zacks Investment Research cut Kadant from a “buy” rating to a “hold” rating in a research report on Wednesday, April 28th. Finally, DA Davidson raised their target price on Kadant from $115.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, February 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Kadant has an average rating of “Hold” and a consensus target price of $161.25.

About Kadant

Kadant Inc supplies critical components and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, profiling systems, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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