Great West Life Assurance Co. Can continued to hold its position in Kadant Inc (NYSE:KAI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,006 shares of the industrial products company’s stock at the close of the 2nd quarter. Great West Life Assurance Co. Can’s holdings in Kadant were worth $150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American International Group Inc. lifted its holdings in shares of Kadant by 7.1% during the first quarter. American International Group Inc. now owns 6,601 shares of the industrial products company’s stock worth $392,000 after buying an additional 435 shares in the last quarter. Teachers Advisors LLC raised its stake in Kadant by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 17,527 shares of the industrial products company’s stock valued at $1,073,000 after purchasing an additional 523 shares in the last quarter. Victory Capital Management Inc. raised its stake in Kadant by 30.0% in the first quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 686 shares in the last quarter. Highbridge Capital Management LLC raised its stake in Kadant by 16.3% in the first quarter. Highbridge Capital Management LLC now owns 9,055 shares of the industrial products company’s stock valued at $537,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Cadence Capital Management LLC raised its stake in Kadant by 8.5% in the first quarter. Cadence Capital Management LLC now owns 19,811 shares of the industrial products company’s stock valued at $1,176,000 after purchasing an additional 1,558 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Kadant Inc (KAI) opened at 92.00 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 30.37 and a beta of 1.33. Kadant Inc has a 1-year low of $49.20 and a 1-year high of $92.50. The company has a 50-day moving average price of $85.58 and a 200-day moving average price of $72.83.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $110.24 million for the quarter, compared to analysts’ expectations of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts forecast that Kadant Inc will post $4.03 EPS for the current fiscal year.

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A number of research analysts recently commented on the company. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 price target for the company in a research note on Saturday, August 5th. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Sidoti reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Finally, Barrington Research boosted their price target on Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $93.00.

About Kadant

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.

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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