Venturi Wealth Management LLC Increases Position in Kadant Inc. (NYSE:KAI)

Venturi Wealth Management LLC raised its position in Kadant Inc. (NYSE:KAI) by 1,289.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 528 shares of the industrial products company’s stock after purchasing an additional 490 shares during the quarter. Venturi Wealth Management LLC’s holdings in Kadant were worth $182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Kadant in the third quarter valued at approximately $25,000. Hilltop National Bank purchased a new stake in shares of Kadant during the fourth quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in shares of Kadant during the third quarter worth $28,000. Westside Investment Management Inc. purchased a new stake in shares of Kadant during the third quarter worth $31,000. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Kadant during the third quarter worth $111,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Down 1.4 %

Kadant stock opened at $382.37 on Friday. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The stock’s fifty day simple moving average is $363.59 and its 200-day simple moving average is $351.12. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.49 billion, a P/E ratio of 40.33 and a beta of 1.29.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping 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%. As a group, equities analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Kadant

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.