Quadrature Capital Ltd Has $2.17 Million Holdings in Kadant Inc. (NYSE:KAI)

Quadrature Capital Ltd lifted its holdings in shares of Kadant Inc. (NYSE:KAI) by 43.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,632 shares of the industrial products company’s stock after purchasing an additional 2,002 shares during the period. Quadrature Capital Ltd owned 0.06% of Kadant worth $2,173,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 306,352 shares during the period. Capital World Investors acquired a new position in shares of Kadant during the first quarter worth $92,993,000. abrdn plc lifted its holdings in shares of Kadant by 16.2% during the fourth quarter. abrdn plc now owns 118,583 shares of the industrial products company’s stock worth $33,240,000 after purchasing an additional 16,541 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Kadant by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,766 shares of the industrial products company’s stock valued at $32,170,000 after buying an additional 611 shares during the period. Finally, Raymond James & Associates lifted its holdings in Kadant by 137.9% in the fourth quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company’s stock valued at $23,028,000 after buying an additional 47,618 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Up 2.8 %

Shares of NYSE:KAI traded up $9.75 during midday trading on Friday, hitting $355.83. 63,136 shares of the company’s stock were exchanged, compared to its average volume of 72,175. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. The stock has a 50 day moving average price of $296.77 and a 200-day moving average price of $298.49. The company has a market cap of $4.18 billion, a PE ratio of 37.07 and a beta of 1.24. Kadant Inc. has a 12 month low of $196.99 and a 12 month high of $356.36.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.96 by $0.42. The company had revenue of $248.98 million during the quarter, compared to the consensus estimate of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, sell-side analysts anticipate that Kadant Inc. will post 10.03 EPS for the current fiscal year.

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KAI shares. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research note on Wednesday, June 26th.

Insiders Place Their Bets

In other Kadant news, Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the transaction, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

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.