Kadant Inc (KAI) Stake Increased by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. lifted its position in shares of Kadant Inc (NYSE:KAI) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,242 shares of the industrial products company’s stock after acquiring an additional 3,886 shares during the period. Kennedy Capital Management Inc. owned approximately 0.42% of Kadant worth $3,477,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. lifted its holdings in shares of Kadant by 14.7% during the 1st quarter. Macquarie Group Ltd. now owns 558,797 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 71,662 shares during the period. Vanguard Group Inc. lifted its stake in Kadant by 4.5% in the 1st 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 last quarter. Handelsbanken Fonder AB lifted its stake in Kadant by 7.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 345,000 shares of the industrial products company’s stock valued at $25,944,000 after purchasing an additional 23,000 shares during the last quarter. State Street Corp lifted its stake in Kadant by 1.5% in the 1st quarter. State Street Corp now owns 230,999 shares of the industrial products company’s stock valued at $13,710,000 after purchasing an additional 3,492 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Kadant by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 135,894 shares of the industrial products company’s stock valued at $10,218,000 after purchasing an additional 14,516 shares during the last quarter. 90.69% of the stock is owned by institutional investors.
Several equities analysts recently commented on KAI shares. Barrington Research increased their price objective on shares of Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Sidoti reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Zacks Investment Research downgraded shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine raised shares of Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One 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 stock has an average rating of “Buy” and an average target price of $93.00.
Kadant Inc (NYSE KAI) opened at 92.00 on Monday. The company 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 52 week low of $49.19 and a 52 week high of $92.50. The company has a 50-day moving average of $85.58 and a 200 day moving average of $72.83.
Kadant (NYSE:KAI) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Kadant had a net margin of 8.10% and a return on equity of 12.68%. The business had revenue of $110.24 million during the quarter, compared to analyst estimates of $113.49 million. During the same period in the previous year, the business posted $0.88 earnings per share. Kadant’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Kadant Inc will post $4.03 EPS for the current fiscal year.
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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