Kadant Inc. (NYSE:KAI – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,430,000 shares, a growth of 5.9% from the July 31st total of 1,350,000 shares. Based on an average daily trading volume, of 77,600 shares, the short-interest ratio is presently 18.4 days.
Kadant Stock Up 0.3 %
NYSE:KAI traded up $1.00 during trading hours on Monday, hitting $321.13. The stock had a trading volume of 60,600 shares, compared to its average volume of 85,833. The business has a 50 day simple moving average of $315.39 and a two-hundred day simple moving average of $304.20. Kadant has a 1-year low of $213.87 and a 1-year high of $363.40. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.77 billion, a PE ratio of 33.45 and a beta of 1.24.
Kadant (NYSE:KAI – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. The business had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business earned $2.54 EPS. Analysts predict that Kadant will post 9.93 EPS for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Kadant
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. bought a new position in Kadant during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in shares of Kadant during the second quarter worth about $29,000. Parallel Advisors LLC grew its stake in Kadant by 58.2% in the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Kadant by 37.0% in the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares during the last quarter. Finally, Covestor Ltd raised its stake in Kadant by 31,600.0% during the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock valued at $104,000 after buying an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Kadant
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Autodesk Stock: Analysts’ Top AI Pick You Shouldn’t Overlook
- What is a Death Cross in Stocks?
- Hidden Opportunities in Li Auto’s Tough Quarter You Can’t Miss
- How to invest in marijuana stocks in 7 steps
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.