Kadant Inc. (NYSE:KAI) Stock Holdings Lowered by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lowered its position in shares of Kadant Inc. (NYSE:KAI) by 9.7% in the 4th quarter, Holdings Channel reports. The fund owned 502 shares of the industrial products company’s stock after selling 54 shares during the period. Parkside Financial Bank & Trust’s holdings in Kadant were worth $173,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kadant in the 4th quarter valued at about $193,595,000. Conestoga Capital Advisors LLC bought a new position in Kadant in the 4th quarter valued at about $38,560,000. Erste Asset Management GmbH bought a new position in Kadant in the 3rd quarter valued at about $11,345,000. Segall Bryant & Hamill LLC bought a new position in Kadant in the 3rd quarter valued at about $11,206,000. Finally, DF Dent & Co. Inc. grew its position in Kadant by 64.1% in the 3rd quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company’s stock valued at $28,109,000 after buying an additional 32,491 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Kadant Price Performance

Shares of NYSE KAI opened at $374.30 on Friday. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. 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 company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 39.48 and a beta of 1.29. The firm has a 50-day moving average of $365.97 and a two-hundred day moving average of $354.27.

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, beating analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. As a group, analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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