Mutual of America Capital Management LLC Invests $576,000 in Kadant Inc (NYSE:KAI)

Mutual of America Capital Management LLC bought a new stake in Kadant Inc (NYSE:KAI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,711 shares of the industrial products company's stock, valued at approximately $576,000.

A number of other institutional investors also recently bought and sold shares of the business. Synovus Financial Corp grew its holdings in Kadant by 1.7% during the fourth quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company's stock worth $608,000 after acquiring an additional 29 shares during the period. Bank of Montreal Can boosted its position in shares of Kadant by 3.2% during the 4th quarter. Bank of Montreal Can now owns 1,187 shares of the industrial products company's stock worth $410,000 after purchasing an additional 37 shares in the last quarter. Xponance Inc. grew its stake in shares of Kadant by 5.1% during the 1st quarter. Xponance Inc. now owns 888 shares of the industrial products company's stock worth $299,000 after purchasing an additional 43 shares during the period. Optimum Investment Advisors increased its holdings in shares of Kadant by 50.0% in 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. Finally, Select Equity Group L.P. boosted its holdings in Kadant by 0.4% during the fourth quarter. Select Equity Group L.P. now owns 13,029 shares of the industrial products company's stock worth $4,495,000 after buying an additional 55 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Stock Up 1.6%

Kadant stock opened at $332.03 on Wednesday. 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 Inc has a one year low of $281.30 and a one year high of $429.95. The company has a 50-day simple moving average of $320.08 and a 200-day simple moving average of $336.40. The firm has a market capitalization of $3.91 billion, a P/E ratio of 35.25 and a beta of 1.25.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.13. The company 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%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.38 earnings per share. As a group, equities analysts expect that Kadant Inc will post 9.97 earnings per share for the current year.

Kadant announced that its board has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors 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 (DPR) is 14.44%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KAI. Barrington Research reissued an "outperform" rating and set a $380.00 price objective on shares of Kadant in a research note on Thursday, May 1st. Wall Street Zen raised shares of Kadant from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, DA Davidson lowered their price target on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st.

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.

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