Royal Bank of Canada Has $26.25 Million Stock Position in Kadant Inc $KAI

Royal Bank of Canada increased its position in shares of Kadant Inc (NYSE:KAI - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,923 shares of the industrial products company's stock after buying an additional 1,209 shares during the period. Royal Bank of Canada owned 0.66% of Kadant worth $26,253,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Kadant during the 1st quarter worth $30,000. Optimum Investment Advisors boosted its holdings in shares of Kadant by 50.0% during the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock worth $51,000 after buying an additional 50 shares during the period. SVB Wealth LLC bought a new stake in shares of Kadant during the 1st quarter worth $54,000. GAMMA Investing LLC boosted its holdings in shares of Kadant by 348.1% during the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company's stock worth $82,000 after buying an additional 188 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Kadant by 982.6% during the 1st quarter. Russell Investments Group Ltd. now owns 249 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 226 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Insider Activity at Kadant

In other news, Director Thomas C. Leonard sold 415 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $338.41, for a total transaction of $140,440.15. Following the completion of the transaction, the director directly owned 4,250 shares of the company's stock, valued at approximately $1,438,242.50. This trade represents a 8.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Kadant Price Performance

Shares of NYSE:KAI traded down $9.27 during midday trading on Friday, reaching $313.33. 71,615 shares of the company's stock were exchanged, compared to its average volume of 100,554. The company's 50 day simple moving average is $331.24 and its two-hundred day simple moving average is $326.66. The firm has a market capitalization of $3.69 billion, a PE ratio of 34.89 and a beta of 1.25. Kadant Inc has a 12 month low of $281.30 and a 12 month high of $429.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 2.38.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.37. The company had revenue of $255.27 million during the quarter, compared to the consensus estimate of $245.99 million. Kadant had a net margin of 10.34% and a return on equity of 12.62%. The firm's revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the firm earned $2.81 EPS. Kadant has set its Q3 2025 guidance at 2.130-2.230 EPS. FY 2025 guidance at 9.050-9.250 EPS. Equities research analysts expect that Kadant Inc will post 9.97 earnings per share for the current fiscal year.

Kadant announced that its Board of Directors has approved a stock buyback plan on Thursday, May 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 9th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 9th. Kadant's dividend payout ratio (DPR) is presently 15.14%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KAI shares. Wall Street Zen upgraded shares of Kadant from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson upped their target price on shares of Kadant from $275.00 to $300.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Barrington Research reiterated an "outperform" rating and set a $380.00 target price on shares of Kadant in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $340.00.

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.