IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 6,027 Shares of Kadant Inc. (NYSE:KAI)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Kadant Inc. (NYSE:KAI - Free Report) by 139.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,337 shares of the industrial products company's stock after acquiring an additional 6,027 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.09% of Kadant worth $3,494,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Kadant by 46.3% during the first quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company's stock worth $317,482,000 after acquiring an additional 306,352 shares during the period. Capital World Investors purchased a new stake in Kadant in the first quarter worth $92,993,000. F M Investments LLC purchased a new stake in Kadant in the second quarter worth $13,495,000. Allspring Global Investments Holdings LLC increased its position in Kadant by 87.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 47,219 shares of the industrial products company's stock worth $13,872,000 after buying an additional 22,020 shares during the last quarter. Finally, Sei Investments Co. increased its position in Kadant by 28.4% in the second quarter. Sei Investments Co. now owns 75,004 shares of the industrial products company's stock worth $22,035,000 after buying an additional 16,595 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

Kadant Stock Performance

Shares of NYSE KAI traded down $0.15 during mid-day trading on Thursday, hitting $334.68. The company had a trading volume of 31,212 shares, compared to its average volume of 82,385. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 34.35 and a beta of 1.21. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average price is $318.97 and its 200-day moving average price is $304.03.

Kadant (NYSE:KAI - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business had revenue of $275.00 million during the quarter, compared to analysts' expectations of $263.50 million. During the same period in the previous year, the business earned $2.54 earnings per share. The firm's revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant's dividend payout ratio (DPR) is currently 13.17%.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares of the company's stock, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KAI shares. Barrington Research reissued an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research report on Friday, September 20th. DA Davidson lifted their price target on Kadant from $290.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st.

Kadant 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.