Swiss National Bank Increases Stake in Kadant Inc. (NYSE:KAI)

Swiss National Bank grew its position in Kadant Inc. (NYSE:KAI) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,600 shares of the industrial products company’s stock after acquiring an additional 600 shares during the quarter. Swiss National Bank’s holdings in Kadant were worth $2,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pictet Asset Management Ltd. grew its holdings in shares of Kadant by 12.0% in the third quarter. Pictet Asset Management Ltd. now owns 191,270 shares of the industrial products company’s stock worth $16,792,000 after purchasing an additional 20,566 shares during the last quarter. State Street Corp grew its position in shares of Kadant by 2.5% in the 3rd quarter. State Street Corp now owns 238,248 shares of the industrial products company’s stock worth $20,916,000 after acquiring an additional 5,765 shares in the last quarter. First Trust Advisors LP grew its position in shares of Kadant by 59.6% in the 3rd quarter. First Trust Advisors LP now owns 29,162 shares of the industrial products company’s stock worth $2,560,000 after acquiring an additional 10,894 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Kadant in the 3rd quarter worth approximately $5,964,000. Finally, CWM LLC grew its position in shares of Kadant by 13,940.6% in the 4th quarter. CWM LLC now owns 58,409 shares of the industrial products company’s stock worth $6,153,000 after acquiring an additional 57,993 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Jonathan W. Painter sold 9,201 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $105.67, for a total value of $972,269.67. Following the sale, the chairman now owns 99,261 shares of the company’s stock, valued at approximately $10,488,909.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael J. Mckenney sold 4,188 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $100.65, for a total value of $421,522.20. Following the completion of the sale, the chief financial officer now directly owns 17,557 shares in the company, valued at approximately $1,767,112.05. The disclosure for this sale can be found here. Insiders have sold a total of 53,587 shares of company stock worth $5,732,251 in the last ninety days. 5.50% of the stock is owned by company insiders.

Kadant stock traded down $0.28 during mid-day trading on Wednesday, hitting $89.25. 62 shares of the company’s stock traded hands, compared to its average volume of 71,958. The firm has a 50 day moving average price of $104.65 and a 200 day moving average price of $95.83. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.05 billion, a PE ratio of 19.55 and a beta of 1.35. Kadant Inc. has a one year low of $77.67 and a one year high of $114.05.

Kadant (NYSE:KAI) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $182.70 million for the quarter, compared to the consensus estimate of $173.38 million. Kadant had a return on equity of 15.27% and a net margin of 7.39%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. On average, analysts expect that Kadant Inc. will post 5.07 earnings per share for the current fiscal year.

KAI has been the subject of several research reports. Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a research report on Tuesday, February 18th. ValuEngine upgraded Kadant from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Sidoti decreased their target price on Kadant from $107.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. DA Davidson reiterated a “neutral” rating and issued a $97.00 target price on shares of Kadant in a research report on Friday, February 14th. Finally, Barrington Research decreased their target price on Kadant from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Kadant currently has an average rating of “Hold” and a consensus price target of $97.22.

Kadant Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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