Handelsinvest Investeringsforvaltning buys $2,886,196 stake in Kadant (KAI)

Kadant (KAI) : Handelsinvest Investeringsforvaltning scooped up 19,300 additional shares in Kadant during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 55,600 shares of Kadant which is valued at $2,886,196.Kadant makes up approximately 1.05% of Handelsinvest Investeringsforvaltning’s portfolio.

Other Hedge Funds, Including , William Blair Investment Management reduced its stake in KAI by selling 7,582 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 313,451 shares of KAI which is valued at $16,271,241. Kadant makes up approx 0.06% of William Blair Investment Management’s portfolio.Lsv Asset Management reduced its stake in KAI by selling 2,400 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 401,548 shares of KAI which is valued at $21,675,561. Kadant makes up approx 0.04% of Lsv Asset Management’s portfolio. Thompson Siegel Walmsley added KAI to its portfolio by purchasing 28 company shares during the most recent quarter which is valued at $1,511.Dean Investment Associates boosted its stake in KAI in the latest quarter, The investment management firm added 2,140 additional shares and now holds a total of 47,205 shares of Kadant which is valued at $2,545,294. Kadant makes up approx 0.48% of Dean Investment Associates’s portfolio.

Kadant opened for trading at $50.85 and hit $52 on the upside on Monday, eventually ending the session at $51.87, with a gain of 1.33% or 0.68 points. The heightened volatility saw the trading volume jump to 64,459 shares. Company has a market cap of $565 M.

On the company’s financial health, Kadant reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $96.50 million for the quarter, compared to analysts expectations of $86.37 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Kadant. Company shares were Reiterated by Barrington Research on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 63 from a previous price target of $55 .

Kadant Inc. is a supplier of equipment used in process industries. The process industries including papermaking paper recycling and oriented strand board (OSB) an engineered wood panel product used primarily in home construction. In addition the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems and a separate product line Fiber-based Products. Through its Papermaking Systems segment it develops manufactures and markets a range of equipment and products for the papermaking paper recycling and other process industries. Through its Wood Processing Systems segment it designs manufactures and markets stranders and related equipment. Through its Fiber-based Products business the Company produces biodegradable absorbent granules from papermaking byproducts for use as carriers for agricultural home lawn and garden and professional lawn turf and ornamental applications.

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