Susquehanna Fundamental Investments LLC Increases Holdings in Kadant Inc. (NYSE:KAI)

Susquehanna Fundamental Investments LLC grew its holdings in Kadant Inc. (NYSE:KAI) by 175.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,627 shares of the industrial products company’s stock after acquiring an additional 3,584 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Kadant were worth $1,653,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Kadant in the first quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Kadant in the second quarter worth about $29,000. Parallel Advisors LLC lifted its position in shares of Kadant by 58.2% in the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after buying an additional 39 shares in the last quarter. Covestor Ltd lifted its position in shares of Kadant by 31,600.0% in the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after buying an additional 316 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Kadant in the first quarter worth about $141,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KAI has been the topic of a number of research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a research report on Friday, September 20th. DA Davidson boosted their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Kadant Trading Down 1.9 %

Shares of KAI stock opened at $331.43 on Wednesday. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock’s 50 day simple moving average is $319.99 and its two-hundred day simple moving average is $303.71. The company has a market cap of $3.89 billion, a PE ratio of 34.52 and a beta of 1.21.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business had revenue of $275.00 million for the quarter, compared to the consensus estimate of $263.50 million. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.39%. Kadant’s dividend payout ratio (DPR) is presently 13.33%.

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.