Phocas Financial Corp. decreased its holdings in Kadant (NYSE:KAI) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 164,234 shares of the industrial products company’s stock after selling 6,973 shares during the period. Kadant makes up about 1.4% of Phocas Financial Corp.’s portfolio, making the stock its 9th biggest position. Phocas Financial Corp. owned about 1.49% of Kadant worth $16,489,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of KAI. SG Americas Securities LLC bought a new position in shares of Kadant in the 4th quarter valued at $104,000. Meeder Asset Management Inc. increased its stake in shares of Kadant by 264.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 1,199 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Kadant in the 3rd quarter valued at $302,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Kadant in the 3rd quarter valued at $329,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Kadant in the 3rd quarter valued at $378,000. Institutional investors own 90.70% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Barrington Research reissued an “outperform” rating and set a $110.00 price objective on shares of Kadant in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $112.67.
Shares of Kadant (NYSE KAI) opened at $99.90 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73. Kadant has a twelve month low of $56.15 and a twelve month high of $114.00. The firm has a market capitalization of $1,123.20, a price-to-earnings ratio of 22.78 and a beta of 1.36.
Kadant (NYSE:KAI) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The company had revenue of $149.14 million for the quarter, compared to the consensus estimate of $144.50 million. research analysts forecast that Kadant will post 5.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, April 12th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, April 11th. This is an increase from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.88%. Kadant’s payout ratio is presently 30.43%.
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Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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