Kornitzer Capital Management Inc. KS Buys New Stake in Kadant Inc $KAI

Kornitzer Capital Management Inc. KS purchased a new position in shares of Kadant Inc (NYSE:KAI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,540 shares of the industrial products company’s stock, valued at approximately $4,327,000. Kornitzer Capital Management Inc. KS owned approximately 0.12% of Kadant as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KAI. Advantage Alpha Capital Partners LP purchased a new position in Kadant during the 2nd quarter valued at about $2,745,000. Champlain Investment Partners LLC lifted its position in shares of Kadant by 54.6% during the second quarter. Champlain Investment Partners LLC now owns 248,632 shares of the industrial products company’s stock worth $78,928,000 after purchasing an additional 87,832 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kadant by 1.5% in the second quarter. Geode Capital Management LLC now owns 279,013 shares of the industrial products company’s stock valued at $88,583,000 after purchasing an additional 4,162 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Kadant by 6.8% in the second quarter. Handelsbanken Fonder AB now owns 78,079 shares of the industrial products company’s stock valued at $24,786,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Kadant by 40.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,846 shares of the industrial products company’s stock worth $1,856,000 after buying an additional 1,683 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Price Performance

Kadant stock opened at $319.84 on Wednesday. The firm’s 50-day moving average is $295.37 and its two-hundred day moving average is $304.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.45 and a quick ratio of 1.60. The stock has a market capitalization of $3.77 billion, a P/E ratio of 36.98 and a beta of 1.25. Kadant Inc has a 12-month low of $244.87 and a 12-month high of $409.73.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.41. Kadant had a return on equity of 11.97% and a net margin of 9.96%.The business had revenue of $271.57 million during the quarter, compared to analyst estimates of $260.17 million. During the same quarter last year, the firm earned $2.84 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts predict that Kadant Inc will post 9.97 earnings per share for the current year.

Kadant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Thursday, January 8th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, January 8th. Kadant’s dividend payout ratio (DPR) is presently 15.72%.

Insider Buying and Selling at Kadant

In other Kadant news, Director Erin L. Russell sold 1,435 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $282.36, for a total value of $405,186.60. Following the transaction, the director owned 3,066 shares in the company, valued at $865,715.76. The trade was a 31.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rebecca Martinez O’mara sold 699 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $266.91, for a total transaction of $186,570.09. Following the completion of the transaction, the director directly owned 1,141 shares of the company’s stock, valued at approximately $304,544.31. The trade was a 37.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

KAI has been the topic of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $380.00 price objective on shares of Kadant in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kadant in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $340.00.

Kadant Company Profile

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.