Mountain Pacific Investment Advisers LLC Acquires 2,069 Shares of Kadant Inc $KAI

by · The Markets Daily

Mountain Pacific Investment Advisers LLC grew its holdings in shares of Kadant Inc (NYSE:KAI – Free Report) by 18.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,533 shares of the industrial products company’s stock after purchasing an additional 2,069 shares during the quarter. Mountain Pacific Investment Advisers LLC owned about 0.11% of Kadant worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of KAI. Fifth Third Bancorp boosted its stake in shares of Kadant by 12,689.4% during the 1st quarter. Fifth Third Bancorp now owns 33,892 shares of the industrial products company’s stock worth $9,908,000 after acquiring an additional 33,627 shares in the last quarter. BlackRock Inc. bought a new position in shares of Kadant in the 2nd quarter valued at approximately $565,205,000. Oppenheimer Asset Management Inc. bought a new position in shares of Kadant in the 2nd quarter valued at approximately $7,843,000. Callan Family Office LLC acquired a new stake in Kadant in the 2nd quarter worth approximately $4,396,000. Finally, Van ECK Associates Corp lifted its holdings in Kadant by 91.6% in the 2nd quarter. Van ECK Associates Corp now owns 4,404 shares of the industrial products company’s stock worth $1,384,000 after purchasing an additional 2,106 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

KAI has been the subject of a number of recent analyst reports. Weiss Ratings cut Kadant from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. DA Davidson lifted their price target on shares of Kadant from $306.00 to $335.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $357.50.

Read Our Latest Research Report on Kadant

Kadant Stock Performance

KAI opened at $282.67 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $274.29 and its two-hundred day moving average price is $306.40. The firm has a market capitalization of $3.34 billion, a P/E ratio of 30.39 and a beta of 1.19. Kadant Inc has a 12-month low of $244.87 and a 12-month high of $354.07.

Kadant (NYSE:KAI – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.64. The company had revenue of $313.16 million during the quarter, compared to analysts’ expectations of $302.03 million. Kadant had a return on equity of 13.16% and a net margin of 9.52%. Kadant’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. On average, equities analysts forecast that Kadant Inc will post 12.56 earnings per share for the current year.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 15th. Kadant’s dividend payout ratio (DPR) is currently 15.48%.

Kadant Company Profile

(Free Report)

Kadant Inc (NYSE: KAI) is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.

Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.

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