State of New Jersey Common Pension Fund D Lowers Position in Kadant Inc. (NYSE:KAI)

State of New Jersey Common Pension Fund D lessened its holdings in Kadant Inc. (NYSE:KAI) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,305 shares of the industrial products company’s stock after selling 881 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kadant were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Kadant during the 4th quarter worth $193,595,000. Conestoga Capital Advisors LLC bought a new position in Kadant in the 4th quarter worth about $38,560,000. Erste Asset Management GmbH bought a new position in Kadant in the 3rd quarter worth about $11,345,000. Segall Bryant & Hamill LLC bought a new position in Kadant in the 3rd quarter worth about $11,206,000. Finally, DF Dent & Co. Inc. raised its holdings in shares of 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 acquiring an additional 32,491 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

NYSE:KAI opened at $377.70 on Wednesday. The stock has a market cap of $4.44 billion, a P/E ratio of 39.84 and a beta of 1.29. 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 Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The business’s 50-day moving average price is $364.42 and its two-hundred day moving average price is $352.98.

Kadant (NYSE:KAI) last announced its quarterly earnings data 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 return on equity of 14.66% and a net margin of 10.59%. As a group, equities analysts predict that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Analyst Ratings Changes

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

Kadant 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.