Stanley Laman Group Ltd. Purchases 144 Shares of Kadant Inc. (NYSE:KAI)

Stanley Laman Group Ltd. boosted its position in Kadant Inc. (NYSE:KAI) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,885 shares of the industrial products company’s stock after purchasing an additional 144 shares during the period. Stanley Laman Group Ltd. owned approximately 0.06% of Kadant worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KAI. Wasatch Advisors Inc. lifted its stake in Kadant by 7.5% in the first quarter. Wasatch Advisors Inc. now owns 1,123,588 shares of the industrial products company’s stock worth $98,831,000 after purchasing an additional 78,147 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Kadant by 53.7% in the first quarter. Pictet Asset Management Ltd. now owns 124,044 shares of the industrial products company’s stock worth $10,911,000 after purchasing an additional 43,344 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Kadant by 5.9% in the second quarter. Handelsbanken Fonder AB now owns 644,300 shares of the industrial products company’s stock worth $58,509,000 after purchasing an additional 36,000 shares during the last quarter. Royce & Associates LP lifted its stake in Kadant by 2.8% in the first quarter. Royce & Associates LP now owns 589,315 shares of the industrial products company’s stock worth $51,836,000 after purchasing an additional 16,030 shares during the last quarter. Finally, Moody Aldrich Partners LLC lifted its stake in Kadant by 61.7% in the second quarter. Moody Aldrich Partners LLC now owns 28,931 shares of the industrial products company’s stock worth $2,627,000 after purchasing an additional 11,044 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Shares of Kadant stock traded up $0.33 on Thursday, hitting $81.89. 965 shares of the company traded hands, compared to its average volume of 63,175. The company has a 50 day moving average of $87.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.34 and a current ratio of 2.09. Kadant Inc. has a 52 week low of $76.44 and a 52 week high of $111.85. The stock has a market cap of $917.71 million, a P/E ratio of 13.93 and a beta of 1.24.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.31. The company had revenue of $177.20 million during the quarter, compared to the consensus estimate of $168.67 million. Kadant had a net margin of 9.50% and a return on equity of 17.67%. Kadant’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, analysts forecast that Kadant Inc. will post 5.31 EPS for the current fiscal year.

In related news, CEO Jonathan W. Painter sold 4,617 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $88.49, for a total value of $408,558.33. Following the completion of the transaction, the chief executive officer now owns 97,834 shares of the company’s stock, valued at $8,657,330.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jonathan W. Painter sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $93.67, for a total transaction of $936,700.00. Following the completion of the transaction, the chairman now directly owns 94,117 shares of the company’s stock, valued at approximately $8,815,939.39. The disclosure for this sale can be found here. Insiders sold 89,688 shares of company stock valued at $8,134,735 in the last three months. 5.50% of the stock is currently owned by insiders.

Several analysts have recently weighed in on KAI shares. Seaport Global Securities downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $97.09 price target for the company. in a research note on Thursday, May 2nd. ValuEngine downgraded shares of Kadant from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Kadant from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $103.55.

Kadant Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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