Kadant (NYSE:KAI) Sees Large Volume Increase – Should You Buy?

Shares of Kadant Inc. (NYSE:KAI) saw unusually-high trading volume on Tuesday . Approximately 144,062 shares changed hands 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.

Analyst Ratings Changes

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

Kadant Stock Performance

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 50 day simple moving average of $363.33 and a 200-day simple moving average of $350.56. The firm has a market cap of $4.55 billion, a PE ratio of 40.89 and a beta of 1.29.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. As a group, equities research analysts anticipate that Kadant Inc. will post 9.91 EPS for the current year.

Institutional Trading of Kadant

Large investors have recently modified their holdings of the company. Creative Planning increased its stake in shares of Kadant by 17.1% in the third quarter. Creative Planning now owns 4,511 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 660 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Kadant during the 3rd quarter valued at about $74,000. Wealth Enhancement Advisory Services LLC grew its position in Kadant by 16.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 793 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 110 shares during the last quarter. abrdn plc grew its holdings in shares of Kadant by 1.1% in the third quarter. abrdn plc now owns 71,495 shares of the industrial products company’s stock worth $24,165,000 after purchasing an additional 796 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Kadant by 6.4% during the third quarter. US Bancorp DE now owns 1,933 shares of the industrial products company’s stock worth $653,000 after acquiring an additional 116 shares during the period. Institutional investors own 96.13% of the company’s stock.

Kadant Company 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.