Kadant Inc. (NYSE:KAI) Stock Holdings Raised by Hardy Reed LLC

Hardy Reed LLC raised its stake in Kadant Inc. (NYSE:KAI) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 716 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Hardy Reed LLC’s holdings in Kadant were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Kadant in the 4th quarter valued at about $193,595,000. State Street Corp boosted its holdings in shares of Kadant by 2.3% in the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after buying an additional 6,412 shares during the period. FMR LLC boosted its holdings in shares of Kadant by 1.1% in the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after buying an additional 1,629 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after buying an additional 2,068 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Kadant by 34.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock valued at $41,447,000 after buying an additional 31,675 shares during the period. Institutional investors own 96.13% of the company’s stock.

Kadant Trading Down 0.9 %

Kadant stock opened at $395.00 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $363.22 and a two-hundred day moving average price of $350.30. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 41.67 and a beta of 1.29. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Sell-side analysts expect that Kadant Inc. will post 9.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Kadant in a report on Friday, February 14th.

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.