Nationwide Fund Advisors increased its stake in Kadant Inc. (NYSE:KAI) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,626 shares of the company’s stock after buying an additional 6,980 shares during the period. Nationwide Fund Advisors owned about 0.69% of Kadant worth $3,844,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Kadant by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 546,542 shares of the company’s stock worth $24,681,000 after buying an additional 6,475 shares during the last quarter. Ngam Advisors L.P. boosted its stake in Kadant by 18.8% in the first quarter. Ngam Advisors L.P. now owns 56,787 shares of the company’s stock worth $2,565,000 after buying an additional 8,970 shares during the last quarter. UBS Group AG boosted its stake in Kadant by 34.6% in the first quarter. UBS Group AG now owns 33,353 shares of the company’s stock worth $1,506,000 after buying an additional 8,580 shares during the last quarter. Hancock Holding Co. boosted its stake in Kadant by 12.1% in the first quarter. Hancock Holding Co. now owns 18,130 shares of the company’s stock worth $819,000 after buying an additional 1,959 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Kadant by 18.4% in the first quarter. Loomis Sayles & Co. L P now owns 311,118 shares of the company’s stock worth $14,050,000 after buying an additional 48,446 shares during the last quarter. Institutional investors own 87.85% of the company’s stock.
Kadant Inc. (NYSE:KAI) traded up 0.04% during trading on Tuesday, reaching $52.47. 11,310 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $53.12 and its 200 day moving average price is $50.46. The firm has a market cap of $571.77 million, a P/E ratio of 16.97 and a beta of 1.38. Kadant Inc. has a 52-week low of $33.38 and a 52-week high of $56.57.
Kadant (NYSE:KAI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.23. Kadant had a net margin of 8.39% and a return on equity of 13.55%. The business had revenue of $111.83 million for the quarter, compared to analyst estimates of $104.44 million. During the same period last year, the firm earned $0.78 earnings per share. Kadant’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities research analysts anticipate that Kadant Inc. will post $3.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 11th. Kadant’s dividend payout ratio is 24.60%.
KAI has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Seaport Global Securities raised shares of Kadant from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 18th. William Blair initiated coverage on shares of Kadant in a research report on Friday, September 16th. They issued a “market perform” rating and a $49.00 price target on the stock. Finally, Barrington Research boosted their price target on shares of Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Kadant has an average rating of “Hold” and a consensus target price of $54.00.
In related news, insider Jonathan W. Painter sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $56.00, for a total transaction of $168,000.00. Following the transaction, the insider now directly owns 61,337 shares of the company’s stock, valued at $3,434,872. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey L. Powell sold 7,773 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $51.20, for a total transaction of $397,977.60. Following the transaction, the insider now directly owns 11,078 shares in the company, valued at $567,193.60. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
Kadant Company Profile
Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.
Want to see what other hedge funds are holding KAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kadant Inc. (NYSE:KAI).
Receive News & Ratings for Kadant Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant Inc. and related companies with MarketBeat.com's FREE daily email newsletter.