Nisa Investment Advisors LLC held its stake in Kadant Inc. (NYSE:KAI) during the second quarter, Holdings Channel reports. The institutional investor owned 2,200 shares of the company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Kadant were worth $113,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its stake in Kadant by 3.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,868 shares of the company’s stock valued at $400,000 after buying an additional 319 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Kadant by 61.1% in the first quarter. Kennedy Capital Management Inc. now owns 24,169 shares of the company’s stock worth $1,091,000 after buying an additional 9,169 shares in the last quarter. Hancock Holding Co. raised its stake in shares of 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 in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kadant by 50.5% in the first quarter. Goldman Sachs Group Inc. now owns 35,534 shares of the company’s stock worth $1,605,000 after buying an additional 11,930 shares in the last quarter. 87.85% of the stock is owned by institutional investors.
Shares of Kadant Inc. (NYSE:KAI) traded up 0.37% during trading on Friday, reaching $52.11. 53,748 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $53.09 and its 200-day moving average price is $50.30. The stock has a market cap of $567.84 million, a PE ratio of 16.85 and a beta of 1.55. Kadant Inc. has a 52-week low of $33.38 and a 52-week high of $56.57.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.23. The firm earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. Kadant had a net margin of 8.39% and a return on equity of 13.55%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, equities research analysts forecast that Kadant Inc. will post $3.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, October 11th. Kadant’s dividend payout ratio is currently 24.60%.
A number of analysts recently weighed in on KAI shares. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Seaport Global Securities lowered shares of Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price target for the company. in a report on Friday, August 5th. Barrington Research raised their price target on shares of Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, William Blair started coverage on shares of Kadant in a report on Friday, September 16th. They issued a “market perform” rating and a $49.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.
In other news, insider Jeffrey L. Powell sold 7,773 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $51.20, for a total transaction of $397,977.60. Following the completion of the sale, the insider now owns 11,078 shares of the company’s stock, valued at approximately $567,193.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sandra L. Lambert sold 4,118 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $52.00, for a total transaction of $214,136.00. Following the sale, the vice president now directly owns 22,722 shares of the company’s stock, valued at approximately $1,181,544. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.
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.
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