Kadant Inc. (NYSE:KAI - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $354.19, but opened at $400.00. Kadant shares last traded at $382.35, with a volume of 105,279 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Barrington Research reissued an "outperform" rating and set a $410.00 price objective on shares of Kadant in a report on Friday.
Check Out Our Latest Stock Analysis on Kadant
Kadant Trading Up 1.8 %
The firm's 50 day moving average is $362.92 and its 200 day moving average is $349.99. 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 cap of $4.64 billion, a PE ratio of 40.49 and a beta of 1.29.
Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.17. Kadant had a net margin of 11.12% and a return on equity of 15.10%. On average, equities analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.
Institutional Trading of Kadant
A number of large investors have recently modified their holdings of the business. FMR LLC increased its position in shares of Kadant by 1.1% in the third quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock worth $48,788,000 after purchasing an additional 1,629 shares during the last quarter. Dudley & Shanley Inc. increased its holdings in shares of Kadant by 196.7% in the 3rd quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company's stock worth $10,985,000 after buying an additional 21,545 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Kadant by 120.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock valued at $546,000 after buying an additional 883 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Kadant during the 3rd quarter worth $585,000. Finally, JPMorgan Chase & Co. grew its position in Kadant by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock worth $21,876,000 after acquiring an additional 24,358 shares in the last quarter. Institutional investors own 96.13% of the company's stock.
About Kadant
(
Get 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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