Handelsbanken Fonder AB lessened its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,079 shares of the industrial products company's stock after selling 10,700 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.85% of Kadant worth $34,526,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Kadant during the 3rd quarter worth approximately $25,000. Hilltop National Bank acquired a new stake in Kadant during the 4th quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in Kadant in the third quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in Kadant in the third quarter valued at $31,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Kadant during the third quarter worth about $74,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.
Kadant Stock Performance
Shares of KAI traded down $5.34 during mid-day trading on Friday, reaching $382.37. 238,504 shares of the company's stock were exchanged, compared to its average volume of 188,032. The business's fifty day simple moving average is $363.33 and its 200-day simple moving average is $350.56. The stock has a market capitalization of $4.49 billion, a PE ratio of 40.33 and a beta of 1.29. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.
Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, equities research analysts expect that Kadant Inc. will post 9.97 earnings per share for the current year.
Analyst Ratings Changes
Separately, Barrington Research reissued an "outperform" rating and issued a $410.00 target price on shares of Kadant in a report on Friday, February 14th.
Check Out Our Latest Stock Analysis on KAI
About Kadant
(
Free Report)
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.
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