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Dec 22, 2023

Swiss National Bank Sells 2,900 Shares of Kadant Inc. (NYSE:KAI)

Swiss National Bank decreased its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The

Swiss National Bank decreased its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the industrial products company's stock after selling 2,900 shares during the period. Swiss National Bank owned about 0.22% of Kadant worth $5,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Kadant in the fourth quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its holdings in shares of Kadant by 62.2% during the first quarter. Tower Research Capital LLC TRC now owns 318 shares of the industrial products company's stock valued at $66,000 after buying an additional 122 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Kadant during the first quarter valued at $101,000. Associated Banc Corp purchased a new stake in shares of Kadant during the first quarter valued at $205,000. Finally, MGO One Seven LLC purchased a new stake in shares of Kadant during the first quarter valued at $206,000. Institutional investors own 96.13% of the company's stock.

NYSE:KAI opened at $220.10 on Thursday. Kadant Inc. has a one year low of $154.19 and a one year high of $229.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 2.04. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 23.12 and a beta of 1.22. The firm's fifty day moving average is $214.42 and its two-hundred day moving average is $206.40.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly 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. Kadant had a net margin of 11.96% and a return on equity of 16.98%. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $231.14 million. During the same period in the prior year, the company earned $2.24 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. Research analysts expect that Kadant Inc. will post 9.27 EPS for the current year.

In other news, VP Fredrik H. Westerhout sold 480 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $215.00, for a total transaction of $103,200.00. Following the sale, the vice president now directly owns 1,387 shares of the company's stock, valued at approximately $298,205. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

KAI has been the topic of a number of research analyst reports. Seaport Res Ptn reissued a "neutral" rating on shares of Kadant in a report on Monday, May 8th. StockNews.com assumed coverage on shares of Kadant in a report on Thursday, August 17th. They set a "buy" rating on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $243.00 price target on shares of Kadant in a report on Friday, July 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Kadant in a report on Friday, July 7th.

View Our Latest Stock Analysis on Kadant

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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