KAI Kadant, Inc.

Kadant, Inc. engages in designing and manufacturing products used in industries ranging from paper to plastics and textiles to tires. It operates through two segments: Papermaking Systems and Wood Processing Systems Business. The Papermaking Systems segment develops, manufactures, and markets a range of equipment and products for the global papermaking, paper recycling, recycling and waste management, and other process industries. The Wood Processing Systems segment includes the production and marketing of stranders and related equipment used in the harvesting of oriented strand board, and lumber. The company was founded in November 1991 and is headquartered in Westford, MA.

Company profile

Ticker

KAI

Exchange

NYSE

Website

www.kadant.com

CEO

Jeffrey L. Powell

Incorporated in

Delaware

Location

Massachusetts

Fiscal year end

Jan 02

Sector

Producer Manufacturing > Industrial Machinery

Industry (SEC)

Special Industry Machinery (No Metalworking Machinery)

Pentair • John Bean Technologies • Sharing Economy International • nVent Electric • Metso ...

Former names

Thermo Fibertek Inc

SEC CIK

0000886346

Corporate docs

Articles of Incorporation & Bylaws

IRS number

521762325

KAI stock data

S&P 500

1M 1Y 2Y 5Y

FINRA relative short interest over last month (20 trading days) ?

Company financial data Financial data

Chart KAI financial data

Quarter (USD)	Dec 19	Sep 19	Jun 19	Mar 19
Revenue	182.66M	173.5M	177.17M	171.32M
Net income	8.75M	16.12M	16.3M	10.9M
Diluted EPS	0.76	1.41	1.42	0.96
Net profit margin	4.79%	9.29%	9.20%	6.36%
Operating income	21.55M	24.55M	23.14M	18.58M
Net change in cash	18.14M	-8.4M	571K	10.65M
Cash on hand	66.79M	48.65M	57.05M	56.48M
Cost of revenue	108.03M	99.26M	102.79M	100.8M

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	704.64M	633.79M	515.03M	414.13M
Net income	52.07M	60.41M	31.09M	32.08M
Diluted EPS	4.54	5.3	2.75	2.88
Net profit margin	7.39%	9.53%	6.04%	7.75%
Operating income	87.82M	88.6M	61.63M	46.64M
Net change in cash	20.96M	-29.6M	3.94M	5.96M
Cash on hand	66.79M	45.83M	75.43M	71.49M
Cost of revenue	410.88M	355.51M	283.89M	225.59M

Financial data from Kadant earnings reports

Institutional ownership Q4 2019

KAI institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	140	142	-1.4%
Opened positions	19	15	+26.7%
Closed positions	21	20	+5.0%
Increased positions	51	49	+4.1%
Reduced positions	38	40	-5.0%

13F shares	Current	Prev Q	Change
Total value	1.16B	927.3M	+25.4%
Total shares	11.03M	10.56M	+4.4%
Total puts	0	0	–
Total calls	1.9K	4.2K	-54.8%
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Wasatch Advisors	1.54M	$162.02M	+17.4%
BLK BlackRock	975.03K	$102.71M	+0.3%
Brown Brothers Harriman & Co	702.36K	$73.99M	0.0%
Handelsbanken Fonder AB	660K	$69.52M	+31.1%
Royce & Associates	617.96K	$65.1M	-1.8%
MCQEF Macquarie	604K	$63.63M	+2.0%
Vanguard	545.98K	$57.51M	+0.5%
Dimensional Fund Advisors	537.43K	$56.61M	-1.3%
WFC Wells Fargo & Company	473.65K	$49.89M	+2.3%
NEU Neuberger Berman	398.29K	$41.96M	+21.4%

Largest transactions	Shares	Bought/sold	Change
Wasatch Advisors	1.54M	+227.99K	+17.4%
Handelsbanken Fonder AB	660K	+156.7K	+31.1%
Cooke & Bieler	351.88K	+152.47K	+76.5%
Nuveen Asset Management	52.13K	-111.85K	-68.2%
Thrivent Financial For Lutherans	31.86K	-81.64K	-71.9%
NEU Neuberger Berman	398.29K	+70.25K	+21.4%
Millennium Management	0	-67.94K	EXIT
Driehaus Capital Management	74.09K	+65K	+714.8%
Tygh Capital Management	62.16K	+62.16K	NEW
CWM	58.41K	+57.99K	+13940.6%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Consolidated revenues increased 11% in 2019 largely due to an acquisition, offset in part by an unfavorable effect of currency translation. Excluding the acquisition and unfavorable effect of currency translation, revenues increased 1% in 2019 compared to 2018.
Revenues from our Papermaking Systems segment decreased 1% in 2019, including an unfavorable effect of foreign currency translation. Excluding the unfavorable effect of foreign currency translation, revenues increased 2% in 2019 as described in the product line discussions below.
Revenues from our Stock-Preparation product line decreased 3% in 2019, including an unfavorable effect of foreign currency translation. Excluding the unfavorable effect of foreign currency translation, revenues were essentially flat in 2019. Decreased demand for our products at our Chinese operations resulted from reduced containerboard project activity due in part to China's recovered paper import restrictions. This decline was partially offset by increased demand for our capital equipment at our European and North American operations. Strong demand for our chemical pulping equipment drove the increase in North America. The overall decrease in capital equipment revenues was offset by increased demand for our parts and consumables products. An increase in demand for our parts and consumables products at our European and North American operations was partially offset by decreased demand at our Chinese operations.

Content analysis ?

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Readability	H.S. freshman Avg

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From filing 10-K 2019 FY