Kadant Inc. (NYSE:KAI - Get Free Report) shares saw strong trading volume on Tuesday . 144,062 shares were traded during mid-day trading, an increase of 32% from the previous session's volume of 109,178 shares.The stock last traded at $402.56 and had previously closed at $388.46.
Wall Street Analysts Forecast Growth
Separately, Barrington Research restated an "outperform" rating and issued a $410.00 price objective on shares of Kadant in a research note on Friday, February 14th.
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Kadant Trading Down 1.4 %
The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 40.33 and a beta of 1.29. The business's 50 day simple moving average is $363.59 and its 200 day simple moving average is $351.12.
Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating 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%. Research analysts anticipate that Kadant Inc. will post 9.97 EPS for the current year.
Institutional Trading of Kadant
Several hedge funds and other institutional investors have recently made changes to their positions in KAI. Ashton Thomas Securities LLC purchased a new stake in shares of Kadant in the third quarter valued at about $25,000. Hilltop National Bank purchased a new stake in shares of Kadant in the fourth quarter valued at about $26,000. Icon Wealth Advisors LLC purchased a new stake in shares of Kadant in the third quarter valued at about $28,000. Westside Investment Management Inc. purchased a new stake in shares of Kadant in the third quarter valued at about $31,000. Finally, Jones Financial Companies Lllp boosted its holdings in Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.
About Kadant
(
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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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