Comerica Bank Has $9.08 Million Position in Kadant Inc $KAI

Key Points

• Comerica Bank increased its holdings in Kadant Inc by 112% in Q1, owning about 26,960 shares valued at $9.08 million.
• Kadant reported an EPS of $2.31 for the latest quarter, exceeding analyst expectations of $1.94, despite a 7.3% year-over-year revenue decline.
• The company has authorized a $50 million share repurchase program, indicating confidence in its stock value amid market conditions.

Comerica Bank increased its stake in shares of Kadant Inc (NYSE:KAI - Free Report) by 112.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,960 shares of the industrial products company's stock after acquiring an additional 14,243 shares during the period. Comerica Bank owned about 0.23% of Kadant worth $9,083,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of KAI. Tower Research Capital LLC TRC raised its holdings in Kadant by 64.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 848 shares of the industrial products company's stock worth $293,000 after acquiring an additional 333 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Kadant by 123.3% during the fourth quarter. Hsbc Holdings PLC now owns 3,470 shares of the industrial products company's stock worth $1,206,000 after acquiring an additional 1,916 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Kadant during the fourth quarter worth about $1,254,000. Northern Trust Corp raised its holdings in Kadant by 5.5% during the fourth quarter. Northern Trust Corp now owns 154,466 shares of the industrial products company's stock worth $53,289,000 after acquiring an additional 8,030 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Kadant during the fourth quarter worth about $223,000. Institutional investors own 96.13% of the company's stock.

Insider Activity at Kadant

In other news, Director Thomas C. Leonard sold 415 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $338.41, for a total value of $140,440.15. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

Kadant Stock Performance

Shares of NYSE KAI traded down $6.82 during mid-day trading on Monday, reaching $323.37. 91,259 shares of the company were exchanged, compared to its average volume of 102,812. The company's 50-day simple moving average is $330.64 and its 200-day simple moving average is $330.42. 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 stock has a market capitalization of $3.81 billion, a P/E ratio of 36.01 and a beta of 1.25. Kadant Inc has a twelve month low of $281.30 and a twelve month high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $245.99 million. During the same quarter in the prior year, the business earned $2.81 earnings per share. The firm's revenue for the quarter 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, research analysts predict that Kadant Inc will post 9.97 earnings per share for the current year.

Kadant declared that its board has approved a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KAI shares. Wall Street Zen raised Kadant from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. DA Davidson boosted their price target on Kadant from $275.00 to $300.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Barrington Research reissued an "outperform" rating and set a $380.00 price target on shares of Kadant in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $340.00.

Kadant 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.