Kadant’s (KAI) “Neutral” Rating Reiterated at DA Davidson

Kadant (NYSE:KAI)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They presently have a $295.00 price target on the industrial products company’s stock. DA Davidson’s target price would indicate a potential downside of 11.40% from the company’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Kadant in a research note on Monday, December 29th. Barrington Research reiterated an “outperform” rating and set a $380.00 price target on shares of Kadant in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Kadant has a consensus rating of “Hold” and an average target price of $337.50.

Kadant Stock Performance

Kadant stock traded up $5.13 on Wednesday, hitting $332.97. The company’s stock had a trading volume of 119,619 shares, compared to its average volume of 120,712. Kadant has a one year low of $244.87 and a one year high of $409.73. The company has a quick ratio of 1.60, a current ratio of 2.45 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.92 billion, a P/E ratio of 38.49 and a beta of 1.25. The company has a fifty day moving average price of $301.26 and a 200-day moving average price of $304.65.

Insider Buying and Selling

In other news, Director Erin L. Russell sold 1,435 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $282.36, for a total transaction of $405,186.60. Following the completion of the sale, the director owned 3,066 shares in the company, valued at $865,715.76. The trade was a 31.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rebecca Martinez O’mara sold 699 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $266.91, for a total transaction of $186,570.09. Following the completion of the transaction, the director directly owned 1,141 shares of the company’s stock, valued at $304,544.31. This trade represents a 37.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kadant

Several hedge funds have recently bought and sold shares of KAI. Wasatch Advisors LP raised its stake in Kadant by 3.6% in the 2nd quarter. Wasatch Advisors LP now owns 984,193 shares of the industrial products company’s stock worth $312,432,000 after purchasing an additional 34,561 shares in the last quarter. M&T Bank Corp lifted its stake in Kadant by 76,036.6% in the 4th quarter. M&T Bank Corp now owns 738,525 shares of the industrial products company’s stock valued at $210,494,000 after purchasing an additional 737,555 shares during the last quarter. Capital World Investors boosted its holdings in shares of Kadant by 1.6% during the 3rd quarter. Capital World Investors now owns 316,210 shares of the industrial products company’s stock valued at $94,098,000 after acquiring an additional 4,930 shares in the last quarter. Geode Capital Management LLC grew its position in Kadant by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 279,013 shares of the industrial products company’s stock worth $88,583,000 after acquiring an additional 4,162 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in Kadant by 54.6% in the 2nd quarter. Champlain Investment Partners LLC now owns 248,632 shares of the industrial products company’s stock worth $78,928,000 after purchasing an additional 87,832 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

About Kadant

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.