Van ECK Associates Corp Purchases New Position in Kadant Inc. (NYSE:KAI)

Van ECK Associates Corp acquired a new position in Kadant Inc. (NYSE:KAI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,764 shares of the industrial products company’s stock, valued at approximately $3,368,000. Van ECK Associates Corp owned 0.08% of Kadant as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Kadant in the third quarter worth $25,000. Hilltop National Bank bought a new position in Kadant in the 4th quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in shares of Kadant in the 3rd quarter worth about $28,000. Westside Investment Management Inc. bought a new stake in shares of Kadant during the 3rd quarter valued at about $31,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Kadant during the third quarter valued at about $74,000. 96.13% of the stock is currently owned by institutional investors.

Kadant Price Performance

KAI opened at $395.00 on Thursday. 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 cap of $4.64 billion, a price-to-earnings ratio of 41.67 and a beta of 1.29. The stock has a fifty day simple moving average of $363.22 and a two-hundred day simple moving average of $350.30. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95.

Kadant (NYSE:KAI) last released its 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 net margin of 10.59% and a return on equity of 14.66%. Research analysts predict that Kadant Inc. will post 9.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.