Kadant Inc (NYSE:KAI) Shares Purchased by Diversified Trust Co

Diversified Trust Co lifted its stake in Kadant Inc (NYSE:KAI - Free Report) by 195.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,807 shares of the industrial products company's stock after purchasing an additional 1,196 shares during the period. Diversified Trust Co's holdings in Kadant were worth $609,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Kadant during the first quarter worth approximately $30,000. Jones Financial Companies Lllp grew its stake in shares of Kadant by 267.9% in the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Kadant by 348.1% in the first 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 during the period. Washington Trust Advisors Inc. purchased a new position in Kadant in the 4th quarter valued at $85,000. Finally, Asset Management One Co. Ltd. acquired a new position in Kadant in the 1st quarter valued at $111,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KAI. DA Davidson reduced their target price on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Barrington Research restated an "outperform" rating and issued a $380.00 price objective on shares of Kadant in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Kadant from a "hold" rating to a "sell" rating in a report on Saturday, June 21st.

Kadant Price Performance

Kadant stock traded up $0.20 during midday trading on Thursday, reaching $329.87. The company's stock had a trading volume of 33,786 shares, compared to its average volume of 115,151. The firm has a market capitalization of $3.88 billion, a PE ratio of 35.02 and a beta of 1.25. Kadant Inc has a fifty-two week low of $281.30 and a fifty-two week high of $429.95. The stock's 50 day simple moving average is $313.83 and its 200 day simple moving average is $338.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.47.

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

Kadant announced that its board has approved a share repurchase program on Thursday, May 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Kadant Announces Dividend

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