Voloridge Investment Management LLC Lowers Position in Kadant Inc. (NYSE:KAI)

Voloridge Investment Management LLC trimmed its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,184 shares of the industrial products company's stock after selling 8,867 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.06% of Kadant worth $2,478,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after buying an additional 75 shares during the period. Washington Trust Advisors Inc. acquired a new position in Kadant in the 4th quarter valued at $85,000. KBC Group NV raised its stake in Kadant by 54.6% in the 4th quarter. KBC Group NV now owns 504 shares of the industrial products company's stock valued at $174,000 after purchasing an additional 178 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Kadant by 1,289.5% in the 4th quarter. Venturi Wealth Management LLC now owns 528 shares of the industrial products company's stock valued at $182,000 after purchasing an additional 490 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Kadant in the 4th quarter valued at $223,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barrington Research reissued an "outperform" rating and issued a $380.00 price objective on shares of Kadant in a research note on Thursday, May 1st. Wall Street Zen downgraded Kadant from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, DA Davidson reduced their price objective on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st.

Kadant Trading Down 1.0%

Shares of KAI traded down $3.14 during midday trading on Friday, reaching $314.18. The company had a trading volume of 106,953 shares, compared to its average volume of 112,575. Kadant Inc. has a 1-year low of $269.75 and a 1-year high of $429.95. The stock has a market cap of $3.70 billion, a PE ratio of 33.14 and a beta of 1.30. The firm has a 50 day simple moving average of $313.67 and a 200-day simple moving average of $351.24. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The business had revenue of $239.21 million during the quarter, compared to the consensus estimate of $239.41 million. During the same period last year, the company earned $2.38 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts forecast that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Thursday, July 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, July 10th. Kadant's dividend payout ratio (DPR) is presently 14.44%.

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

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.