Diversified Trust Co Acquires 1,196 Shares of Kadant Inc (NYSE:KAI)

Diversified Trust Co lifted its holdings in Kadant Inc (NYSE:KAI - Free Report) by 195.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807 shares of the industrial products company's stock after buying an additional 1,196 shares during the quarter. Diversified Trust Co's holdings in Kadant were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. increased its stake in Kadant by 259.1% in the first quarter. Bessemer Group Inc. now owns 2,844 shares of the industrial products company's stock valued at $959,000 after purchasing an additional 2,052 shares during the last quarter. Sheets Smith Wealth Management grew its stake in shares of Kadant by 3.7% in the first quarter. Sheets Smith Wealth Management now owns 2,322 shares of the industrial products company's stock valued at $782,000 after buying an additional 83 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Kadant in the first quarter valued at about $111,000. State of Alaska Department of Revenue purchased a new position in Kadant in the first quarter valued at about $2,192,000. Finally, Conestoga Capital Advisors LLC boosted its holdings in Kadant by 97.9% in the first quarter. Conestoga Capital Advisors LLC now owns 221,209 shares of the industrial products company's stock valued at $74,528,000 after purchasing an additional 109,439 shares during the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on KAI shares. Wall Street Zen downgraded Kadant from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. DA Davidson reduced their target price on Kadant from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Barrington Research reissued an "outperform" rating and issued a $380.00 price target on shares of Kadant in a report on Thursday, May 1st.

Kadant Price Performance

Shares of NYSE KAI traded up $4.38 during mid-day trading on Wednesday, reaching $329.58. The company had a trading volume of 79,640 shares, compared to its average volume of 115,477. The company has a current ratio of 2.47, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.88 billion, a PE ratio of 34.99 and a beta of 1.25. The company has a 50-day moving average price of $313.83 and a two-hundred day moving average price of $338.48. Kadant Inc has a 1-year low of $281.30 and a 1-year high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.97 by $0.13. The business had revenue of $239.21 million during the quarter, compared to analysts' expectations of $239.41 million. Kadant had a return on equity of 13.74% and a net margin of 10.63%. Kadant's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 earnings per share. On average, equities analysts anticipate that Kadant Inc will post 9.97 earnings per share for the current year.

Kadant announced that its Board of Directors has authorized a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Thursday, July 10th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.41%. Kadant's dividend payout ratio is currently 14.44%.

Kadant Company 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.