Allspring Global Investments Holdings LLC Raises Stock Holdings in Kadant Inc $KAI

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Kadant Inc by 90.2% during the second quarter, now owning approximately 59,244 shares valued at $19.26 million.
• Kadant reported a quarterly earnings of $2.31 EPS, exceeding analysts' expectations, but experienced a 7.3% revenue decline year-over-year.
• The company declared a quarterly dividend of $0.34 per share, with an annualized yield of 0.5%, to be paid on November 6th.

Allspring Global Investments Holdings LLC grew its stake in Kadant Inc (NYSE:KAI - Free Report) by 90.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,244 shares of the industrial products company's stock after buying an additional 28,099 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.50% of Kadant worth $19,266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KAI. Maseco LLP purchased a new stake in Kadant in the second quarter worth about $30,000. Optimum Investment Advisors increased its position in Kadant by 50.0% in the first quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock worth $51,000 after buying an additional 50 shares in the last quarter. SVB Wealth LLC purchased a new stake in Kadant in the first quarter worth about $54,000. Harbor Investment Advisory LLC increased its position in Kadant by 55.4% in the second quarter. Harbor Investment Advisory LLC now owns 174 shares of the industrial products company's stock worth $55,000 after buying an additional 62 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in Kadant in the second quarter worth about $62,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insider Buying and Selling

In related news, Director Thomas C. Leonard sold 415 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $338.41, for a total transaction of $140,440.15. Following the completion of the transaction, the director directly owned 4,250 shares of the company's stock, valued at approximately $1,438,242.50. This represents a 8.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on KAI shares. Wall Street Zen upgraded Kadant from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. DA Davidson upped their price objective on Kadant from $275.00 to $300.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and issued a $380.00 price objective on shares of Kadant in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kadant in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $340.00.

Kadant Stock Performance

NYSE KAI opened at $297.00 on Friday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 33.07 and a beta of 1.22. The company has a quick ratio of 1.53, a current ratio of 2.38 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $315.32 and a 200-day moving average price of $317.30. Kadant Inc has a twelve month low of $270.73 and a twelve month high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.37. Kadant had a return on equity of 12.62% and a net margin of 10.34%.The company had revenue of $255.27 million during the quarter, compared to analyst estimates of $245.99 million. During the same period in the prior year, the company earned $2.81 earnings per share. The firm's revenue was down 7.3% on a year-over-year basis. Kadant has set its Q3 2025 guidance at 2.130-2.230 EPS. FY 2025 guidance at 9.050-9.250 EPS. As a group, equities research analysts predict that Kadant Inc will post 9.97 EPS for the current fiscal year.

Kadant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 9th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. Kadant's dividend payout ratio is presently 15.14%.

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.

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