Callan Family Office LLC Sells 880 Shares of Kadant Inc (NYSE:KAI)

Callan Family Office LLC reduced its position in Kadant Inc (NYSE:KAI) by 41.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,260 shares of the industrial products company’s stock after selling 880 shares during the period. Callan Family Office LLC’s holdings in Kadant were worth $425,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Kadant in the 1st quarter valued at about $30,000. Optimum Investment Advisors boosted its holdings in shares of Kadant by 50.0% in the 1st quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company’s stock valued at $51,000 after buying an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kadant by 348.1% in the 1st quarter. GAMMA Investing LLC now owns 242 shares of the industrial products company’s stock valued at $82,000 after buying an additional 188 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Kadant in the 1st quarter valued at about $111,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Kadant by 23.1% in the 1st quarter. Fifth Third Bancorp now owns 442 shares of the industrial products company’s stock valued at $149,000 after buying an additional 83 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

Kadant Stock Performance

Shares of Kadant stock opened at $340.52 on Friday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 37.92 and a beta of 1.24. The company has a quick ratio of 1.53, a current ratio of 2.38 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $327.17 and a 200 day moving average price of $333.45. Kadant Inc has a 52 week low of $281.30 and a 52 week high of $429.95.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.94 by $0.37. The firm had revenue of $255.27 million during the quarter, compared to analyst estimates of $245.99 million. Kadant had a net margin of 10.34% and a return on equity of 12.62%. Kadant’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.81 EPS. Sell-side analysts expect that Kadant Inc will post 9.97 EPS for the current year.

Kadant declared that its Board of Directors has approved a stock buyback 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $380.00 price target on shares of Kadant in a report on Tuesday, July 29th. DA Davidson increased their price objective on shares of Kadant from $275.00 to $300.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of Kadant from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th.

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.