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Quadrature Capital Ltd Has $1.30 Million Holdings in Kadant Inc. (NYSE:KAI)

Kadant logo with Industrial Products background

Quadrature Capital Ltd boosted its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 266.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,630 shares of the industrial products company's stock after purchasing an additional 3,368 shares during the period. Quadrature Capital Ltd's holdings in Kadant were worth $1,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in Kadant by 137.9% in the fourth quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company's stock valued at $23,028,000 after acquiring an additional 47,618 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Kadant in the fourth quarter valued at approximately $1,571,000. Vanguard Group Inc. lifted its stake in Kadant by 0.7% in the third quarter. Vanguard Group Inc. now owns 658,401 shares of the industrial products company's stock valued at $148,502,000 after acquiring an additional 4,529 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Kadant by 1,578.8% in the fourth quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company's stock valued at $20,795,000 after acquiring an additional 69,766 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kadant by 640.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,119 shares of the industrial products company's stock valued at $2,556,000 after acquiring an additional 7,888 shares during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KAI shares. Barrington Research reiterated an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday, June 5th. William Blair reiterated an "outperform" rating on shares of Kadant in a research note on Tuesday, April 30th.

Read Our Latest Report on KAI

Insider Transactions at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the company's stock in a transaction on Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the completion of the transaction, the director now directly owns 3,802 shares in the company, valued at approximately $1,061,708.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Kadant Stock Performance

Shares of Kadant stock traded up $1.60 on Thursday, reaching $281.78. The stock had a trading volume of 66,504 shares, compared to its average volume of 90,399. The business's 50-day moving average price is $280.71 and its two-hundred day moving average price is $291.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05. Kadant Inc. has a fifty-two week low of $196.99 and a fifty-two week high of $354.02. The stock has a market cap of $3.31 billion, a P/E ratio of 29.35 and a beta of 1.25.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.42. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The business had revenue of $248.98 million during the quarter, compared to analysts' expectations of $245.56 million. During the same period in the previous year, the company earned $2.40 earnings per share. Kadant's revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Kadant Inc. will post 10.03 EPS for the current year.

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, July 11th. Kadant's payout ratio is 13.33%.

Kadant Profile

(Free Report)

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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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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