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Warehousing

Short Interest in Kadant Inc. (NYSE:KAI) Drops By 10.8%

Kadant Inc. (NYSE:KAIGet Rating) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 190,100 shares, a decrease of 10.8% from the July 15th total of 213,000 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily volume of 38,500 shares, the days-to-cover ratio is currently 4.9 days.

Kadant Price Performance

KAI traded down $2.46 during trading on Tuesday, reaching $197.42. The stock had a trading volume of 35,371 shares, compared to its average volume of 37,365. The stock has a market cap of $2.30 billion, a PE ratio of 20.84, a PEG ratio of 2.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.85. Kadant has a one year low of $168.43 and a one year high of $240.47. The business has a 50-day moving average of $187.62 and a 200-day moving average of $191.97.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, July 14th were paid a $0.26 dividend. The ex-dividend date was Wednesday, July 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Kadant’s dividend payout ratio is presently 10.84%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KAI shares. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Kadant in a report on Wednesday, May 4th. Barrington Research increased their target price on Kadant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 5th.

Institutional Inflows and Outflows

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Institutional investors have recently added to or reduced their stakes in the company. Horan Securities Inc. bought a new position in Kadant in the fourth quarter valued at $25,000. Russell Investments Group Ltd. purchased a new stake in Kadant during the first quarter valued at about $26,000. USA Financial Portformulas Corp purchased a new stake in Kadant during the fourth quarter valued at about $33,000. Lazard Asset Management LLC purchased a new stake in Kadant during the first quarter valued at about $47,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Kadant during the fourth quarter valued at about $69,000. Institutional investors own 93.93% of the company’s stock.

Kadant Company Profile

(Get Rating)

Kadant Inc supplies technologies 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, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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