Strs Ohio grew its holdings in Kadant Inc. (NYSE:KAI – Get Rating) by 266.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,400 shares of the industrial products company’s stock after purchasing an additional 3,200 shares during the period. Strs Ohio’s holdings in Kadant were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of KAI. Horan Securities Inc. purchased a new position in shares of Kadant during the fourth quarter valued at $25,000. USA Financial Portformulas Corp purchased a new position in shares of Kadant during the fourth quarter valued at $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kadant during the fourth quarter valued at $69,000. Sageworth Trust Co of South Dakota purchased a new position in shares of Kadant during the fourth quarter valued at $72,000. Finally, CWM LLC purchased a new position in shares of Kadant during the fourth quarter valued at $87,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.
Kadant Price Performance
Shares of NYSE KAI opened at $186.99 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.14 and a current ratio of 1.80. The company has a market cap of $2.18 billion, a PE ratio of 20.08, a P/E/G ratio of 2.54 and a beta of 1.18. The business has a 50-day simple moving average of $183.28 and a two-hundred day simple moving average of $195.17. Kadant Inc. has a fifty-two week low of $167.40 and a fifty-two week high of $240.47.
Kadant (NYSE:KAI – Get Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. Kadant had a return on equity of 17.88% and a net margin of 12.93%. The firm had revenue of $226.48 million during the quarter, compared to the consensus estimate of $215.17 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue was up 31.3% compared to the same quarter last year. As a group, equities analysts expect that Kadant Inc. will post 8.9 EPS for the current fiscal year.
Kadant Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, July 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 13th. Kadant’s dividend payout ratio (DPR) is 11.17%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Barrington Research raised their price target on Kadant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Seaport Res Ptn restated a “neutral” rating on shares of Kadant in a research note on Wednesday, May 4th. Finally, StockNews.com assumed coverage on Kadant in a research note on Thursday, March 31st. They set a “buy” rating on the stock.
Kadant Profile
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.
Further Reading
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