Oppenheimer Asset Management Inc. Sells 1,368 Shares of Kadant Inc. (NYSE:KAI)

Oppenheimer Asset Management Inc. lowered its position in Kadant Inc. (NYSE:KAI) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,072 shares of the industrial products company’s stock after selling 1,368 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.16% of Kadant worth $6,580,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Kadant in the 3rd quarter worth approximately $25,000. Hilltop National Bank acquired a new position in shares of Kadant in the 4th quarter valued at $26,000. Icon Wealth Advisors LLC acquired a new position in shares of Kadant in the 3rd quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in shares of Kadant in the 3rd quarter valued at $31,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Kadant in the 3rd quarter valued at $111,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Kadant Stock Up 0.3 %

NYSE KAI opened at $374.30 on Friday. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. 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 stock’s 50 day moving average is $365.97 and its two-hundred day moving average is $353.91. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 39.48 and a beta of 1.29.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

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.