Illinois pension fund buys $2.16M in Kadant Inc., despite company's 3.9% revenue drop.

The Illinois Municipal Retirement Fund bought $2.16 million worth of Kadant Inc shares, while Envestnet Portfolio Solutions reduced its holdings. Despite a 3.9% revenue drop, Kadant reported a $2.10 EPS, surpassing estimates. The company, which operates in Flow Control, Industrial Processing, and Material Handling, has a market cap of $3.7 billion and recently declared a quarterly dividend of $0.34 per share.