Select Equity Group L.P. Has $27.18 Million Holdings in Kadant Inc $KAI

Key Points

• Select Equity Group L.P. increased its holdings in Kadant Inc by 519.2% during the first quarter, owning approximately $27.18 million worth of shares.
• Kadant recently announced a $50 million stock repurchase plan and declared a quarterly dividend of $0.34 per share, with an ex-dividend date of October 9th.
• Despite a quarterly revenue decrease of 7.3% year-over-year, Kadant reported earnings per share of $2.31, surpassing analysts' expectations.

Select Equity Group L.P. grew its position in shares of Kadant Inc (NYSE:KAI - Free Report) by 519.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,677 shares of the industrial products company's stock after buying an additional 67,648 shares during the quarter. Select Equity Group L.P. owned approximately 0.69% of Kadant worth $27,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers raised its stake in shares of Kadant by 12.5% in the 4th quarter. Cetera Investment Advisers now owns 720 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 80 shares in the last quarter. Crestline Management LP bought a new stake in shares of Kadant during the fourth quarter valued at approximately $323,000. Deutsche Bank AG increased its position in shares of Kadant by 46.3% during the fourth quarter. Deutsche Bank AG now owns 10,272 shares of the industrial products company's stock valued at $3,544,000 after purchasing an additional 3,249 shares during the period. Ethic Inc. acquired a new stake in Kadant in the 4th quarter valued at $249,000. Finally, Janus Henderson Group PLC boosted its stake in Kadant by 20.0% in the 4th quarter. Janus Henderson Group PLC now owns 156,358 shares of the industrial products company's stock valued at $53,985,000 after buying an additional 26,067 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kadant news, Director Thomas C. Leonard sold 415 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $338.41, for a total transaction of $140,440.15. Following the transaction, the director owned 4,250 shares in the company, valued at $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 available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Kadant Price Performance

Shares of NYSE KAI opened at $327.63 on Friday. The firm has a market cap of $3.86 billion, a P/E ratio of 36.48 and a beta of 1.25. The company has a current ratio of 2.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. Kadant Inc has a 1-year low of $281.30 and a 1-year high of $429.95. The business's 50 day moving average is $331.97 and its 200-day moving average is $328.45.

Kadant (NYSE:KAI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.37. The company had revenue of $255.27 million for the quarter, compared to analyst estimates of $245.99 million. Kadant had a return on equity of 12.62% and a net margin of 10.34%.The firm's quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.81 earnings per share. 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 predict that Kadant Inc will post 9.97 earnings per share for the current year.

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

Kadant Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on KAI. DA Davidson boosted their price objective on Kadant from $275.00 to $300.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Wall Street Zen upgraded Kadant from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Barrington Research reiterated an "outperform" rating and issued a $380.00 price target on shares of Kadant in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.