California State Teachers Retirement System Has $4.32 Million Stock Position in Kadant Inc $KAI

California State Teachers Retirement System decreased its position in Kadant Inc (NYSE:KAI - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,735 shares of the industrial products company's stock after selling 398 shares during the period. California State Teachers Retirement System owned 0.12% of Kadant worth $4,315,949 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Kadant during the 2nd quarter valued at about $33,000. Public Employees Retirement System of Ohio acquired a new stake in Kadant in the 2nd quarter worth about $35,000. Parallel Advisors LLC boosted its stake in Kadant by 79.2% during the first quarter. Parallel Advisors LLC now owns 172 shares of the industrial products company's stock worth $50,000 after buying an additional 76 shares during the period. Hantz Financial Services Inc. increased its holdings in Kadant by 497.6% in the fourth quarter. Hantz Financial Services Inc. now owns 245 shares of the industrial products company's stock valued at $70,000 after buying an additional 204 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kadant in the second quarter valued at approximately $101,000. Institutional investors own 96.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Kadant from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings raised shares of Kadant from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Zacks Research cut Kadant from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Finally, DA Davidson boosted their price objective on Kadant from $306.00 to $335.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $357.50.

Kadant Price Performance

Shares of KAI stock traded down $0.06 during mid-day trading on Tuesday, hitting $267.24. 187,160 shares of the stock were exchanged, compared to its average volume of 155,012. Kadant Inc has a 52-week low of $244.87 and a 52-week high of $354.07. The company has a market cap of $3.16 billion, a PE ratio of 28.73 and a beta of 1.17. The firm has a fifty day moving average of $308.61 and a 200 day moving average of $312.05. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.49.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.48. Kadant had a return on equity of 13.16% and a net margin of 9.52%.The business had revenue of $312.88 million during the quarter, compared to the consensus estimate of $299.17 million. During the same period in the prior year, the company earned $2.31 earnings per share. The company's revenue was up 22.6% compared to the same quarter last year. Kadant has set its FY 2026 guidance at 12.430-12.680 EPS and its Q3 2026 guidance at 2.900-3.000 EPS. Research analysts anticipate that Kadant Inc will post 12.56 earnings per share for the current year.

Kadant announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Kadant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, October 15th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. Kadant's payout ratio is 15.48%.

Kadant Profile

Kadant Inc NYSE: KAI is a global supplier of technologies and equipment used in the production of paper and other industrial products. The company develops solutions that help customers manage fluid flow, process raw materials, remove contaminants, and improve the efficiency and sustainability of manufacturing operations.

Its products and services include fluid-handling equipment, doctoring and cleaning systems, stock-preparation equipment, granulators, screens, filtration systems, steam and condensate systems, and related process technologies.

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.