Deutsche Bank AG Raises Holdings in Kadant Inc. (NYSE:KAI)

Deutsche Bank AG increased its holdings in Kadant Inc. (NYSE:KAI) by 46.3% in the 4th quarter, HoldingsChannel reports. The fund owned 10,272 shares of the industrial products company’s stock after purchasing an additional 3,249 shares during the quarter. Deutsche Bank AG’s holdings in Kadant were worth $3,544,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KAI. Crestline Management LP acquired a new position in Kadant during the fourth quarter worth $323,000. Cetera Investment Advisers lifted its stake in Kadant by 12.5% during the fourth quarter. Cetera Investment Advisers now owns 720 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 80 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Kadant by 22.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 28,808 shares of the industrial products company’s stock worth $9,938,000 after purchasing an additional 5,223 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Kadant during the fourth quarter worth $223,000. Finally, Comerica Bank lifted its stake in Kadant by 194.2% during the fourth quarter. Comerica Bank now owns 12,717 shares of the industrial products company’s stock worth $4,387,000 after purchasing an additional 8,395 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Stock Down 1.3%

Kadant stock opened at $316.23 on Wednesday. Kadant Inc. has a twelve month low of $266.23 and a twelve month high of $429.95. The stock’s fifty day simple moving average is $318.83 and its 200-day simple moving average is $355.53. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.72 billion, a P/E ratio of 33.36 and a beta of 1.30.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.13. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $239.41 million. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. As a group, equities analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant declared that its board has initiated a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Thursday, July 10th will be paid a $0.34 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.36 annualized dividend and a yield of 0.43%. Kadant’s dividend payout ratio is presently 14.44%.

Analyst Ratings Changes

A number of research analysts have commented on the company. DA Davidson decreased their price target on Kadant from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Barrington Research reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Kadant in a research report on Thursday, May 1st.

About Kadant

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.