Rhumbline Advisers Buys 207 Shares of Kadant Inc. (NYSE:KAI)

Rhumbline Advisers raised its stake in Kadant Inc. (NYSE:KAI) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,386 shares of the industrial products company’s stock after buying an additional 207 shares during the period. Rhumbline Advisers’ holdings in Kadant were worth $6,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of Kadant in the third quarter worth approximately $25,000. Hilltop National Bank purchased a new position in Kadant in the 4th quarter worth approximately $26,000. Icon Wealth Advisors LLC bought a new position in Kadant in the 3rd quarter valued at approximately $28,000. Westside Investment Management Inc. purchased a new stake in Kadant during the 3rd quarter valued at $31,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Kadant in the 3rd quarter worth $111,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kadant Stock Performance

NYSE KAI opened at $381.27 on Thursday. The company has a market cap of $4.48 billion, a P/E ratio of 40.22 and a beta of 1.29. The business’s 50 day moving average price is $364.99 and its 200-day moving average price is $353.18. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29.

Kadant (NYSE:KAI) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Sell-side analysts predict that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant 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.