Captrust Financial Advisors Buys New Position in Kadant Inc. (NYSE:KAI)

Captrust Financial Advisors acquired a new position in shares of Kadant Inc. (NYSE:KAI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,904 shares of the industrial products company's stock, valued at approximately $644,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Diversified Trust Co bought a new stake in shares of Kadant during the 2nd quarter worth about $237,000. Raymond James & Associates boosted its position in Kadant by 6.5% during the second quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company's stock valued at $24,712,000 after purchasing an additional 5,167 shares during the last quarter. Raymond James Trust N.A. increased its position in Kadant by 12.4% in the 2nd quarter. Raymond James Trust N.A. now owns 1,559 shares of the industrial products company's stock worth $458,000 after purchasing an additional 172 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Kadant by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 63,955 shares of the industrial products company's stock valued at $18,789,000 after buying an additional 5,473 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Kadant by 87.4% in 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 buying an additional 22,020 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 152 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the transaction, the director now directly owns 4,250 shares of the company's stock, valued at $1,692,392.50. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rebecca Martinez O'mara sold 300 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $392.59, for a total transaction of $117,777.00. Following the sale, the director now directly owns 1,293 shares of the company's stock, valued at approximately $507,618.87. This trade represents a 18.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,052 shares of company stock valued at $1,091,455 in the last three months. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Barrington Research reiterated an "outperform" rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th.

Kadant Trading Up 0.3 %

Shares of NYSE:KAI traded up $1.33 during trading on Thursday, hitting $382.08. 85,225 shares of the company's stock were exchanged, compared to its average volume of 82,580. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The firm has a 50-day moving average price of $366.78 and a two-hundred day moving average price of $329.21. 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 firm has a market cap of $4.49 billion, a P/E ratio of 39.11 and a beta of 1.25.

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

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant's payout ratio is 13.10%.

Kadant 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.