ArrowMark Colorado Holdings LLC Sells 3,067 Shares of Kadant Inc. (NYSE:KAI)

ArrowMark Colorado Holdings LLC cut its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,403 shares of the industrial products company's stock after selling 3,067 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.12% of Kadant worth $4,868,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. F M Investments LLC bought a new position in Kadant during the 2nd quarter valued at $13,495,000. Erste Asset Management GmbH bought a new position in Kadant during the 3rd quarter valued at $11,345,000. Segall Bryant & Hamill LLC bought a new position in Kadant during the 3rd quarter valued at $11,206,000. Champlain Investment Partners LLC increased its position in shares of Kadant by 34.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company's stock valued at $41,447,000 after purchasing an additional 31,675 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Kadant by 87.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 47,219 shares of the industrial products company's stock valued at $13,872,000 after purchasing an additional 22,020 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an "outperform" rating and set a $360.00 target price on shares of Kadant in a research report on Wednesday, October 30th.

Insider Activity

In other Kadant news, VP Fredrik H. Westerhout sold 600 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the sale, the vice president now owns 1,437 shares in the company, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas C. Leonard sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares of the company's stock, valued at $1,433,950. The trade was a 32.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,052 shares of company stock worth $1,091,455. 1.40% of the stock is currently owned by insiders.

Kadant Stock Performance

KAI traded down $4.08 during trading hours on Tuesday, hitting $409.24. The stock had a trading volume of 14,932 shares, compared to its average volume of 81,974. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The stock has a market cap of $4.80 billion, a PE ratio of 41.74 and a beta of 1.25. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95. The company's fifty day simple moving average is $357.16 and its 200 day simple moving average is $323.43.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.41. The firm had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. Equities analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.31%. Kadant's dividend payout ratio (DPR) is presently 13.10%.

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.