Erste Asset Management GmbH Sells 3,724 Shares of Kadant Inc $KAI

Key Points

• Erste Asset Management GmbH reduced its stake in Kadant Inc by 13.6%, selling 3,724 shares and maintaining ownership of approximately 0.20% of the company valued at around $7.94 million.
• Kadant reported quarterly earnings of $2.31 per share, exceeding estimates, despite a 7.3% year-over-year revenue decline.
• The company has launched a $50 million share repurchase program, indicating management believes its shares are undervalued.

Erste Asset Management GmbH lowered its stake in shares of Kadant Inc (NYSE:KAI - Free Report) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,626 shares of the industrial products company's stock after selling 3,724 shares during the period. Erste Asset Management GmbH owned approximately 0.20% of Kadant worth $7,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KAI. Opal Wealth Advisors LLC bought a new position in shares of Kadant during the 1st quarter valued at about $30,000. Optimum Investment Advisors lifted its holdings in shares of Kadant by 50.0% during the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 50 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kadant by 348.1% during the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 188 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Kadant by 982.6% during the 1st quarter. Russell Investments Group Ltd. now owns 249 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 226 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Kadant during the 1st quarter valued at about $111,000. Institutional investors own 96.13% of the company's stock.

Kadant Stock Down 2.8%

NYSE:KAI opened at $330.9970 on Thursday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 36.86 and a beta of 1.24. Kadant Inc has a twelve month low of $281.30 and a twelve month high of $429.95. The stock's 50 day moving average price is $327.73 and its two-hundred day moving average price is $332.39. The company has a quick ratio of 1.53, a current ratio of 2.38 and a debt-to-equity ratio of 0.26.

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

Kadant declared that its board has authorized a share repurchase program 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KAI. Wall Street Zen upgraded 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 objective on shares of Kadant in a report on Tuesday, July 29th. Finally, DA Davidson boosted their target price on Kadant from $275.00 to $300.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.