Public Sector Pension Investment Board Acquires 5,813 Shares of Kadant Inc $KAI

Public Sector Pension Investment Board grew its holdings in Kadant Inc (NYSE:KAI) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,926 shares of the industrial products company’s stock after acquiring an additional 5,813 shares during the period. Public Sector Pension Investment Board’s holdings in Kadant were worth $13,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors LP increased its position in Kadant by 3.6% during the second quarter. Wasatch Advisors LP now owns 984,193 shares of the industrial products company’s stock worth $312,432,000 after buying an additional 34,561 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kadant by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 279,013 shares of the industrial products company’s stock valued at $88,583,000 after acquiring an additional 4,162 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Kadant by 54.6% in the 2nd quarter. Champlain Investment Partners LLC now owns 248,632 shares of the industrial products company’s stock valued at $78,928,000 after acquiring an additional 87,832 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Kadant by 0.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 222,051 shares of the industrial products company’s stock worth $70,490,000 after purchasing an additional 842 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Kadant by 23.8% during the second quarter. Bank of America Corp DE now owns 147,463 shares of the industrial products company’s stock worth $46,812,000 after purchasing an additional 28,380 shares during the period. Institutional investors own 96.13% of the company’s stock.

Insider Transactions at Kadant

In other Kadant news, Director Erin L. Russell sold 1,435 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $282.36, for a total value of $405,186.60. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $865,715.76. This trade represents a 31.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Kadant Stock Performance

NYSE KAI opened at $333.72 on Monday. The company’s fifty day moving average is $309.77 and its two-hundred day moving average is $304.34. Kadant Inc has a 52-week low of $244.87 and a 52-week high of $409.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.45 and a quick ratio of 1.60. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 38.58 and a beta of 1.25.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KAI shares. Barrington Research reissued an “outperform” rating and issued a $380.00 price target on shares of Kadant in a research report on Tuesday, February 3rd. DA Davidson set a $295.00 target price on shares of Kadant in a research note on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kadant in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $337.50.

Kadant Profile

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.