Kadant Inc. (NYSE:KAI) Short Interest Up 32.8% in February

Kadant Inc. (NYSE:KAI) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,540,000 shares, an increase of 32.8% from the February 13th total of 1,160,000 shares. Based on an average daily trading volume, of 159,500 shares, the short-interest ratio is currently 9.7 days. Currently, 13.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Kadant Stock Performance

Shares of NYSE:KAI traded down $8.60 during midday trading on Tuesday, reaching $346.01. 69,719 shares of the company traded hands, compared to its average volume of 172,164. 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 has a 12 month low of $249.51 and a 12 month high of $429.95. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 36.50 and a beta of 1.25. The firm’s fifty day moving average price is $368.38 and its two-hundred day moving average price is $358.25.

Kadant (NYSE:KAI) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Kadant will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.39%. This is a positive change from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. Kadant’s payout ratio is presently 14.35%.

Institutional Trading of Kadant

A number of hedge funds and other institutional investors have recently made changes to their positions in KAI. Hilltop National Bank purchased a new position in Kadant during the fourth quarter worth about $26,000. Icon Wealth Advisors LLC purchased a new position in Kadant during the third quarter worth about $28,000. Westside Investment Management Inc. purchased a new position in Kadant during the third quarter worth about $31,000. Jones Financial Companies Lllp grew its position in Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after buying an additional 75 shares in the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in Kadant during the fourth quarter worth about $85,000. 96.13% of the stock is currently owned by institutional investors.

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.