Swiss National Bank maintained its position in shares of Kadant Inc (NYSE:KAI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,900 shares of the industrial products company’s stock at the close of the second quarter. Swiss National Bank owned 0.16% of Kadant worth $1,346,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of KAI. SG Americas Securities LLC bought a new position in shares of Kadant in the second quarter worth approximately $127,000. BNP Paribas Arbitrage SA increased its position in shares of Kadant by 718.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 1,530 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Kadant by 30.0% in the first quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 686 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Kadant in the first quarter worth approximately $203,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Kadant in the first quarter worth approximately $290,000. Institutional investors own 90.69% of the company’s stock.
In other Kadant news, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.60, for a total value of $112,000.00. Following the sale, the director now owns 5,250 shares of the company’s stock, valued at approximately $470,400. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.59% of the company’s stock.
KAI has been the topic of several research analyst reports. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price for the company. in a research note on Tuesday, October 3rd. Finally, ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $95.33.
Shares of Kadant Inc (NYSE KAI) opened at 100.10 on Thursday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 33.05 and a beta of 1.36. Kadant Inc has a 52 week low of $50.25 and a 52 week high of $101.15. The firm has a 50-day moving average price of $92.23 and a 200 day moving average price of $77.83.
Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The business had revenue of $110.24 million for the quarter, compared to the consensus estimate of $113.49 million. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Kadant Inc will post $4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Wednesday, October 11th. Kadant’s payout ratio is 27.72%.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by Markets Daily and is owned by of Markets Daily. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2017/10/12/swiss-national-bank-continues-to-hold-holdings-in-kadant-inc-kai.html.
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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.