Mountain Pacific Investment Advisers LLC Purchases 2,069 Shares of Kadant Inc $KAI

Mountain Pacific Investment Advisers LLC raised its position in Kadant Inc (NYSE:KAI) by 18.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,533 shares of the industrial products company’s stock after purchasing an additional 2,069 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Kadant were worth $3,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KAI. Illinois Municipal Retirement Fund lifted its position in shares of Kadant by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,120 shares of the industrial products company’s stock worth $1,789,000 after acquiring an additional 37 shares during the period. Vancity Investment Management Ltd grew its holdings in shares of Kadant by 1.8% during the 2nd quarter. Vancity Investment Management Ltd now owns 2,458 shares of the industrial products company’s stock worth $772,000 after purchasing an additional 43 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Kadant by 1.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,917 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 46 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Kadant by 79.2% during the first quarter. Parallel Advisors LLC now owns 172 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 76 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Kadant during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Performance

NYSE KAI opened at $282.67 on Wednesday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 30.39 and a beta of 1.19. The company has a 50 day moving average of $274.29 and a 200-day moving average of $306.40. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.49. Kadant Inc has a 1-year low of $244.87 and a 1-year high of $354.07.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, November 3rd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.64. The company had revenue of $313.16 million during the quarter, compared to analysts’ expectations of $302.03 million. Kadant had a net margin of 9.52% and a return on equity of 13.16%. Kadant’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 earnings per share. On average, equities analysts forecast that Kadant Inc will post 12.56 earnings per share for the current fiscal year.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, October 15th. This represents a $1.44 annualized dividend and a yield of 0.5%. Kadant’s payout ratio is presently 15.48%.

Analyst Ratings Changes

A number of brokerages recently commented on KAI. DA Davidson upped their target price on Kadant from $306.00 to $335.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Kadant from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $357.50.

Kadant Profile

Kadant Inc (NYSE: KAI) is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.

Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.