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

Key Points

• Mutual of America Capital Management LLC invested $576,000 in Kadant Inc, acquiring 1,711 shares of the company's stock during the 1st quarter.
• Several institutional investors, including Vanguard Group and Conestoga Capital Advisors, increased their holdings in Kadant, highlighting significant interest with nearly 96.13% of the stock owned by institutional investors.
• Kadant recently reported earnings of $2.31 per share, exceeding estimates, and announced a quarterly dividend of $0.34 for shareholders.

Mutual of America Capital Management LLC acquired a new stake in Kadant Inc (NYSE:KAI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,711 shares of the industrial products company's stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also modified their holdings of KAI. Opal Wealth Advisors LLC bought a new position in Kadant in the 1st quarter worth $30,000. Optimum Investment Advisors raised its holdings in Kadant by 50.0% in the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock worth $51,000 after acquiring an additional 50 shares during the period. GAMMA Investing LLC raised its holdings in Kadant by 348.1% in the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company's stock worth $82,000 after acquiring an additional 188 shares during the period. Asset Management One Co. Ltd. bought a new position in Kadant in the 1st quarter worth $111,000. Finally, Fifth Third Bancorp raised its holdings in Kadant by 23.1% in the 1st quarter. Fifth Third Bancorp now owns 442 shares of the industrial products company's stock worth $149,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Kadant from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Barrington Research restated 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 price objective on shares of Kadant from $275.00 to $300.00 and gave the stock a "neutral" rating in a report on Monday, August 4th.

Kadant Price Performance

NYSE KAI traded down $0.37 on Friday, reaching $340.33. The company's stock had a trading volume of 83,545 shares, compared to its average volume of 144,403. Kadant Inc has a 52 week low of $281.30 and a 52 week high of $429.95. The company has a current ratio of 2.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.01 billion, a PE ratio of 37.90 and a beta of 1.24. The business has a 50-day moving average price of $327.17 and a 200 day moving average price of $333.45.

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 (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.37. Kadant had a net margin of 10.34% and a return on equity of 12.62%. The firm had revenue of $255.27 million during the quarter, compared to analyst estimates of $245.99 million. During the same quarter in the prior year, the business posted $2.81 earnings per share. The company's quarterly revenue was down 7.3% compared to the same quarter last year. Sell-side analysts expect that Kadant Inc will post 9.97 EPS for the current year.

Kadant declared that its Board of Directors has initiated a share buyback plan on Thursday, May 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.