Vancity Investment Management Ltd Makes New Investment in Kadant Inc. (NYSE:KAI)

Vancity Investment Management Ltd bought a new position in shares of Kadant Inc. (NYSE:KAIFree Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,520 shares of the industrial products company’s stock, valued at approximately $734,000.

Other institutional investors also recently bought and sold shares of the company. Dark Forest Capital Management LP raised its stake in Kadant by 70.4% during the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 57 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Kadant in the 4th quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its stake in shares of Kadant by 62.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 318 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 122 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Kadant in the 1st quarter valued at approximately $101,000. Finally, Citigroup Inc. raised its stake in shares of Kadant by 63.1% in the 1st quarter. Citigroup Inc. now owns 734 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 284 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Down 0.4 %

Shares of KAI stock opened at $219.22 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 2.04. The stock has a market capitalization of $2.57 billion, a P/E ratio of 23.03 and a beta of 1.22. The company has a 50 day moving average price of $215.09 and a 200 day moving average price of $206.96. Kadant Inc. has a fifty-two week low of $154.19 and a fifty-two week high of $229.90.

Kadant (NYSE:KAIGet Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.42. The firm had revenue of $245.00 million during the quarter, compared to analysts’ expectations of $231.14 million. Kadant had a net margin of 11.96% and a return on equity of 16.98%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.24 earnings per share. Equities research analysts predict that Kadant Inc. will post 9.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Kadant in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. William Blair reissued an “outperform” rating on shares of Kadant in a research note on Friday, July 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $243.00 price target on shares of Kadant in a research note on Friday, July 28th.

Get Our Latest Stock Report on KAI

Insiders Place Their Bets

In other Kadant news, Director John M. Albertine sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $219.79, for a total transaction of $263,748.00. Following the completion of the transaction, the director now owns 6,517 shares in the company, valued at approximately $1,432,371.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kadant news, Director John M. Albertine sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $219.79, for a total transaction of $263,748.00. Following the completion of the transaction, the director now owns 6,517 shares in the company, valued at approximately $1,432,371.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fredrik H. Westerhout sold 480 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $215.00, for a total transaction of $103,200.00. Following the transaction, the vice president now owns 1,387 shares of the company’s stock, valued at approximately $298,205. The disclosure for this sale can be found here. Insiders sold 4,821 shares of company stock worth $1,057,305 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Kadant Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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