Credit Suisse AG trimmed its holdings in Kadant Inc. (NYSE:KAI – Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,133 shares of the industrial products company’s stock after selling 4,326 shares during the period. Credit Suisse AG owned 0.54% of Kadant worth $13,164,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in Kadant by 3.1% in the fourth quarter. Amalgamated Bank now owns 1,925 shares of the industrial products company’s stock worth $342,000 after acquiring an additional 57 shares in the last quarter. Trexquant Investment LP grew its position in Kadant by 3.9% in the third quarter. Trexquant Investment LP now owns 2,137 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 80 shares in the last quarter. CWM LLC grew its position in Kadant by 23.0% in the fourth quarter. CWM LLC now owns 439 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 82 shares in the last quarter. M&T Bank Corp grew its position in Kadant by 2.8% in the third quarter. M&T Bank Corp now owns 3,127 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 84 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Kadant by 2.7% in the first quarter. Arizona State Retirement System now owns 3,379 shares of the industrial products company’s stock worth $705,000 after acquiring an additional 89 shares in the last quarter. 95.07% of the stock is owned by institutional investors.
Insider Activity at Kadant
In related news, VP Fredrik H. Westerhout sold 480 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $215.00, for a total transaction of $103,200.00. Following the completion of the transaction, the vice president now directly owns 1,387 shares in the company, valued at approximately $298,205. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Analysis on KAI
Kadant Price Performance
NYSE KAI opened at $213.79 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $214.62 and a 200 day simple moving average of $206.14. The company has a market cap of $2.50 billion, a P/E ratio of 22.46 and a beta of 1.22. Kadant Inc. has a 1 year low of $154.19 and a 1 year high of $229.90.
Kadant (NYSE:KAI – Get Free Report) last released its earnings results on Tuesday, August 1st. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.12 by $0.42. The firm had revenue of $245.00 million during the quarter, compared to analysts’ expectations of $231.14 million. Kadant had a net margin of 11.96% and a return on equity of 16.98%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.24 EPS. On average, sell-side analysts predict that Kadant Inc. will post 9.27 EPS for the current year.
Kadant Profile
Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.
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