Crestline Management LP Takes Position in Kadant Inc. (NYSE:KAI)

Crestline Management LP purchased a new stake in Kadant Inc. (NYSE:KAI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 936 shares of the industrial products company's stock, valued at approximately $323,000.

Other hedge funds have also added to or reduced their stakes in the company. Entropy Technologies LP bought a new position in Kadant in the fourth quarter valued at about $464,000. KBC Group NV boosted its holdings in Kadant by 54.6% in the fourth quarter. KBC Group NV now owns 504 shares of the industrial products company's stock valued at $174,000 after acquiring an additional 178 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kadant by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock valued at $41,980,000 after acquiring an additional 445 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Kadant by 87.1% in the fourth quarter. Wesbanco Bank Inc. now owns 1,590 shares of the industrial products company's stock valued at $549,000 after acquiring an additional 740 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Kadant by 13.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,132 shares of the industrial products company's stock valued at $2,460,000 after acquiring an additional 828 shares during the last quarter. Institutional investors own 96.13% of the company's stock.

Kadant Trading Up 0.8%

KAI traded up $2.61 during midday trading on Friday, reaching $324.91. 36,719 shares of the company were exchanged, compared to its average volume of 111,061. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a one year low of $266.23 and a one year high of $429.95. The stock has a market capitalization of $3.83 billion, a P/E ratio of 34.27 and a beta of 1.30. The stock's 50-day simple moving average is $320.42 and its 200 day simple moving average is $355.64.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.13. The firm had revenue of $239.21 million for the quarter, compared to analysts' expectations of $239.41 million. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The company's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.38 earnings per share. As a group, analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant declared that its board has authorized a stock buyback plan on Thursday, May 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.42%. Kadant's dividend payout ratio (DPR) is presently 14.44%.

Analyst Ratings Changes

Several research firms recently issued reports on KAI. Barrington Research reiterated an "outperform" rating and issued a $380.00 price target on shares of Kadant in a report on Thursday, May 1st. DA Davidson decreased their price target on Kadant from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st.

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.