Versor Investments LP Acquires New Stake in Kadant Inc. (NYSE:KAI)

Versor Investments LP bought a new position in Kadant Inc. (NYSE:KAI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 900 shares of the industrial products company’s stock, valued at approximately $310,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Zhang Financial LLC raised its stake in shares of Kadant by 0.8% in the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock worth $1,813,000 after buying an additional 40 shares in the last quarter. Franklin Resources Inc. grew its holdings in Kadant by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock worth $1,483,000 after acquiring an additional 44 shares during the period. King Luther Capital Management Corp raised its position in Kadant by 0.7% in the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 48 shares in the last quarter. Associated Banc Corp lifted its holdings in Kadant by 7.5% in the 3rd quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 58 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its position in shares of Kadant by 3.2% during the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company’s stock valued at $772,000 after purchasing an additional 69 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Stock Performance

Shares of NYSE KAI opened at $372.69 on Tuesday. The stock’s fifty day simple moving average is $366.45 and its 200 day simple moving average is $355.04. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 39.31 and a beta of 1.29. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. As a group, sell-side analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Kadant Company 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.