Bank of America Corp DE Purchases 21,038 Shares of Kadant Inc $KAI

Key Points

• Bank of America increased its Kadant stake by 21.6%, purchasing 21,038 shares in the first quarter to own 118,248 shares valued at approximately $34.6 million. Institutional investors collectively hold 96.13% of Kadant.
• Kadant reported strong quarterly results, with earnings of $3.42 per share and revenue of $312.9 million, beating analyst estimates and representing 22.6% year-over-year revenue growth.
• Analyst sentiment remains mixed, with Kadant carrying an average “Hold” rating and a $357.50 average price target. The company also authorized a $50 million share buyback and pays a quarterly dividend of $0.36 per share.

Bank of America Corp DE grew its position in shares of Kadant Inc (NYSE:KAI - Free Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,248 shares of the industrial products company's stock after buying an additional 21,038 shares during the quarter. Bank of America Corp DE owned 1.00% of Kadant worth $34,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Kadant by 102.3% in the fourth quarter. CWM LLC now owns 87 shares of the industrial products company's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Kadant by 1,300.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84 shares of the industrial products company's stock worth $25,000 after buying an additional 78 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Kadant in the 2nd quarter worth about $27,000. Kestra Advisory Services LLC bought a new position in Kadant during the 4th quarter valued at about $27,000. Finally, Danske Bank A S bought a new position in Kadant during the 4th quarter valued at about $29,000. Institutional investors own 96.13% of the company's stock.

Insider Activity

In related news, SVP Stacy D. Krause sold 1,227 shares of Kadant stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $334.17, for a total transaction of $410,026.59. Following the completion of the transaction, the senior vice president directly owned 1,363 shares of the company's stock, valued at approximately $455,473.71. The trade was a 47.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KAI shares. Barrington Research reiterated an "outperform" rating and issued a $380.00 price target on shares of Kadant in a research note on Monday, May 4th. Zacks Research downgraded shares of Kadant from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. DA Davidson raised their target price on shares of Kadant from $306.00 to $335.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Kadant from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Kadant from a "buy" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Kadant presently has an average rating of "Hold" and an average target price of $357.50.

Kadant Stock Up 0.9%

Shares of KAI opened at $333.88 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 5.37. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 35.90 and a beta of 1.20. Kadant Inc has a 1 year low of $244.87 and a 1 year high of $354.07. The business's 50 day simple moving average is $309.71 and its 200-day simple moving average is $316.59.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.48. Kadant had a net margin of 9.52% and a return on equity of 13.16%. The business had revenue of $312.88 million during the quarter, compared to analysts' expectations of $299.17 million. During the same period last year, the company posted $2.31 EPS. The business's revenue was up 22.6% on a year-over-year basis. Kadant has set its FY 2026 guidance at 12.430-12.680 EPS and its Q3 2026 guidance at 2.900-3.000 EPS. As a group, equities analysts expect that Kadant Inc will post 12.54 earnings per share for the current fiscal year.

Kadant announced that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Kadant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 16th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.44 annualized dividend and a dividend yield of 0.4%. Kadant's dividend payout ratio is currently 15.48%.

About Kadant

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company's product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.

Want to see what other hedge funds are holding KAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kadant Inc (NYSE:KAI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source