Paradigm Capital Management Inc. NY purchased a new stake in Kadant Inc. (NYSE:KAI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,900 shares of the industrial products company’s stock, valued at approximately $2,778,000. Paradigm Capital Management Inc. NY owned about 0.26% of Kadant at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new position in shares of Kadant in the fourth quarter worth approximately $469,000. Wasatch Advisors Inc. acquired a new position in Kadant in the first quarter valued at approximately $17,505,000. Wells Fargo & Company MN lifted its stake in Kadant by 3.0% in the first quarter. Wells Fargo & Company MN now owns 452,780 shares of the industrial products company’s stock valued at $42,788,000 after buying an additional 12,982 shares during the period. SG Americas Securities LLC lifted its stake in Kadant by 90.4% in the first quarter. SG Americas Securities LLC now owns 1,978 shares of the industrial products company’s stock valued at $187,000 after buying an additional 939 shares during the period. Finally, Trexquant Investment LP acquired a new position in Kadant in the first quarter valued at approximately $231,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Shares of KAI opened at $99.00 on Friday. Kadant Inc. has a 52-week low of $82.70 and a 52-week high of $114.00. The company has a current ratio of 1.87, a quick ratio of 1.19 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 22.05 and a beta of 1.33.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.07. Kadant had a return on equity of 16.05% and a net margin of 6.15%. The firm had revenue of $154.90 million for the quarter, compared to analyst estimates of $151.54 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The company’s revenue was up 40.6% compared to the same quarter last year. equities analysts predict that Kadant Inc. will post 5.06 earnings per share for the current year.

Several brokerages have issued reports on KAI. Zacks Investment Research lowered Kadant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Barrington Research set a $112.00 price target on Kadant and gave the company a “buy” rating in a research note on Friday, June 29th. Finally, ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd.

About Kadant

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

Read More: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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.