Alps Advisors Inc. Takes $407,000 Position in Kadant Inc. (KAI)

Alps Advisors Inc. bought a new position in shares of Kadant Inc. (NYSE:KAI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,625 shares of the industrial products company’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KAI. Menta Capital LLC lifted its position in shares of Kadant by 27.4% during the 1st quarter. Menta Capital LLC now owns 6,044 shares of the industrial products company’s stock valued at $532,000 after acquiring an additional 1,300 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Kadant by 2,206.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,283 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 2,184 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Kadant by 14.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,243 shares of the industrial products company’s stock valued at $373,000 after acquiring an additional 520 shares during the period. BTIM Corp. lifted its position in shares of Kadant by 2.2% during the 1st quarter. BTIM Corp. now owns 130,330 shares of the industrial products company’s stock valued at $11,464,000 after acquiring an additional 2,850 shares during the period. Finally, Confluence Investment Management LLC lifted its position in shares of Kadant by 16.6% during the 1st quarter. Confluence Investment Management LLC now owns 60,972 shares of the industrial products company’s stock valued at $5,363,000 after acquiring an additional 8,695 shares during the period. Hedge funds and other institutional investors own 92.63% of the company’s stock.

Kadant stock opened at $87.18 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.94. Kadant Inc. has a 52 week low of $76.44 and a 52 week high of $111.85. The firm has a market cap of $964.35 million, a PE ratio of 15.69 and a beta of 1.11.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Kadant had a return on equity of 17.26% and a net margin of 9.22%. The company had revenue of $171.30 million during the quarter, compared to analysts’ expectations of $164.37 million. During the same quarter in the previous year, the firm earned $1.07 EPS. Kadant’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Kadant Inc. will post 5.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 7th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Kadant’s previous quarterly dividend of $0.22.

In other news, Director William P. Tully sold 1,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $88.36, for a total transaction of $132,540.00. Following the completion of the transaction, the director now owns 5,200 shares of the company’s stock, valued at approximately $459,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by insiders.

KAI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Kadant from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Barrington Research reiterated a “buy” rating and set a $112.00 target price on shares of Kadant in a research report on Monday, January 28th. ValuEngine downgraded Kadant from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Seaport Global Securities downgraded Kadant from a “buy” rating to a “neutral” rating and set a $97.09 target price for the company. in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $103.55.

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About Kadant

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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