Pacer Advisors Inc. Has $264,000 Stock Position in Kadant Inc (NYSE:KAI)

Pacer Advisors Inc. boosted its position in Kadant Inc (NYSE:KAI) by 19,500.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 784 shares of the industrial products company’s stock after acquiring an additional 780 shares during the period. Pacer Advisors Inc.’s holdings in Kadant were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KAI. Synovus Financial Corp lifted its position in Kadant by 1.7% in the 4th quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 29 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Kadant by 3.2% in the fourth quarter. Bank of Montreal Can now owns 1,187 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 37 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of Kadant by 2.2% in the first quarter. Apollon Wealth Management LLC now owns 1,795 shares of the industrial products company’s stock worth $605,000 after purchasing an additional 39 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Kadant by 5.6% in the first quarter. Cetera Investment Advisers now owns 760 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 40 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Kadant by 5.1% during the first quarter. Xponance Inc. now owns 888 shares of the industrial products company’s stock valued at $299,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analysts Set New Price Targets

KAI has been the topic of several recent analyst reports. DA Davidson dropped their price objective on Kadant from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Barrington Research reiterated an “outperform” rating and issued a $380.00 target price on shares of Kadant in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Kadant from a “sell” rating to a “hold” rating in a report on Saturday, July 5th.

Kadant Stock Down 2.8%

KAI stock opened at $323.47 on Friday. The stock has a market cap of $3.81 billion, a P/E ratio of 36.02 and a beta of 1.24. The company has a current ratio of 8.17, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $324.23 and its two-hundred day simple moving average is $335.93. Kadant Inc has a 1-year low of $281.30 and a 1-year high of $429.95.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.37. The company had revenue of $255.27 million for the quarter, compared to the consensus estimate of $245.99 million. Kadant had a net margin of 10.34% and a return on equity of 12.62%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.81 EPS. Analysts expect that Kadant Inc will post 9.97 EPS for the current year.

Kadant declared that its board has approved a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.36 annualized dividend and a dividend yield of 0.4%. Kadant’s dividend payout ratio (DPR) is presently 15.14%.

Kadant Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in 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, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.