Kadant Inc $KAI Stock Holdings Boosted by Aberdeen Group plc

Aberdeen Group plc raised its position in shares of Kadant Inc (NYSE:KAI) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 57,691 shares of the industrial products company’s stock after buying an additional 398 shares during the period. Aberdeen Group plc’s holdings in Kadant were worth $19,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Kadant during the 1st quarter valued at $30,000. Optimum Investment Advisors boosted its stake in shares of Kadant by 50.0% during the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Kadant by 348.1% during the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 188 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Kadant by 982.6% during the 1st quarter. Russell Investments Group Ltd. now owns 249 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 226 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Kadant during the 1st quarter worth $111,000. 96.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $380.00 price objective on shares of Kadant in a research note on Tuesday, July 29th. Wall Street Zen raised Kadant from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, DA Davidson raised their price objective on Kadant from $275.00 to $300.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th.

Kadant Stock Performance

Shares of Kadant stock opened at $339.95 on Monday. The stock has a market cap of $4.00 billion, a PE ratio of 37.86 and a beta of 1.24. The business has a fifty day simple moving average of $327.38 and a 200-day simple moving average of $332.55. The company has a quick ratio of 1.53, a current ratio of 2.38 and a debt-to-equity ratio of 0.26. Kadant Inc has a 12 month low of $281.30 and a 12 month high of $429.95.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.94 by $0.37. The business had revenue of $255.27 million during the quarter, compared to analysts’ expectations of $245.99 million. Kadant had a return on equity of 12.62% and a net margin of 10.34%. Kadant’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 earnings per share. On average, sell-side analysts anticipate that Kadant Inc will post 9.97 EPS for the current fiscal year.

Kadant announced that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Kadant Company 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.