963 Shares in Kadant Inc $KAI Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired 963 shares of Kadant Inc (NYSE:KAI) valued at approximately $324,000 during the first quarter, indicating growing institutional interest in the stock.
• Kadant's recent quarterly earnings showed an EPS of $2.31, beating estimates by $0.37, although the company experienced a year-over-year revenue decline of 7.3%.
• The company's Board of Directors has initiated a $50 million share buyback program, suggesting confidence in the stock's value and outlook.

Aigen Investment Management LP acquired a new stake in shares of Kadant Inc (NYSE:KAI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 963 shares of the industrial products company's stock, valued at approximately $324,000.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Kadant during the first quarter worth $30,000. Optimum Investment Advisors raised its holdings in shares of Kadant by 50.0% during the first quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock worth $51,000 after purchasing an additional 50 shares during the period. GAMMA Investing LLC lifted its position in shares of Kadant by 348.1% in the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company's stock worth $82,000 after buying an additional 188 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Kadant in the 1st quarter valued at about $111,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Kadant by 23.1% in the 1st quarter. Fifth Third Bancorp now owns 442 shares of the industrial products company's stock valued at $149,000 after buying an additional 83 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Kadant Stock Performance

Shares of Kadant stock traded up $2.87 during trading on Monday, hitting $342.48. 19,574 shares of the stock were exchanged, compared to its average volume of 143,761. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 2.38. Kadant Inc has a 12 month low of $281.30 and a 12 month high of $429.95. The stock's fifty day moving average is $327.38 and its 200 day moving average is $332.55. The stock has a market cap of $4.03 billion, a PE ratio of 38.14 and a beta of 1.24.

Kadant (NYSE:KAI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.37. Kadant had a net margin of 10.34% and a return on equity of 12.62%. The firm had revenue of $255.27 million during the quarter, compared to analyst estimates of $245.99 million. During the same period in the previous year, the business posted $2.81 EPS. Kadant's revenue was down 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kadant Inc will post 9.97 EPS for the current year.

Kadant announced that its Board of Directors has authorized a stock repurchase 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Kadant from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Barrington Research reiterated an "outperform" rating and set a $380.00 price target on shares of Kadant in a research report on Tuesday, July 29th. Finally, DA Davidson raised their price target on Kadant from $275.00 to $300.00 and gave the stock a "neutral" rating in a report on Monday, August 4th.

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.