Hardy Reed LLC Raises Stock Position in Kadant Inc. (NYSE:KAI)

Hardy Reed LLC grew its holdings in Kadant Inc. (NYSE:KAI) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 716 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Hardy Reed LLC’s holdings in Kadant were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 490 shares during the period. Principal Financial Group Inc. raised its stake in shares of Kadant by 13.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,132 shares of the industrial products company’s stock valued at $2,460,000 after acquiring an additional 828 shares during the period. Rhumbline Advisers raised its stake in shares of Kadant by 1.1% in the 4th quarter. Rhumbline Advisers now owns 18,386 shares of the industrial products company’s stock valued at $6,343,000 after acquiring an additional 207 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Kadant in the 4th quarter valued at $193,595,000. Finally, Van ECK Associates Corp purchased a new stake in Kadant during the 4th quarter worth $3,368,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $410.00 price target on shares of Kadant in a research note on Friday, February 14th.

Kadant Stock Performance

Kadant stock opened at $395.00 on Thursday. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 41.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The firm’s fifty day moving average price is $363.22 and its 200 day moving average price is $350.30.

Kadant (NYSE:KAI) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, research analysts forecast that Kadant Inc. will post 9.91 EPS for the current fiscal year.

Kadant Company 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.