Kadant Inc. (NYSE:KAI) Sees Significant Growth in Short Interest

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

Kadant Price Performance

Shares of KAI traded up $2.52 during mid-day trading on Monday, hitting $354.98. The company’s stock had a trading volume of 85,833 shares, compared to its average volume of 96,685. The firm has a 50-day moving average price of $368.38 and a 200 day moving average price of $358.25. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 37.45 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant has a fifty-two week low of $249.51 and a fifty-two week 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 the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, research analysts predict that Kadant will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This is a boost from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant’s dividend payout ratio (DPR) is currently 14.35%.

Institutional Trading of Kadant

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

Analyst Ratings Changes

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

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.