Kadant Inc. (NYSE:KAI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in Kadant Inc. (NYSE:KAI - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 475,407 shares of the industrial products company's stock after selling 9,186 shares during the quarter. Chevy Chase Trust Holdings LLC owned 4.05% of Kadant worth $164,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Kadant during the fourth quarter worth about $193,595,000. Van ECK Associates Corp purchased a new position in shares of Kadant during the 4th quarter worth approximately $3,368,000. Entropy Technologies LP acquired a new stake in shares of Kadant in the 4th quarter valued at approximately $464,000. EULAV Asset Management boosted its stake in shares of Kadant by 19.8% in the fourth quarter. EULAV Asset Management now owns 33,300 shares of the industrial products company's stock valued at $11,488,000 after buying an additional 5,500 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in Kadant by 9.9% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company's stock worth $264,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.

Kadant Price Performance

Shares of NYSE:KAI traded up $7.14 during trading on Tuesday, hitting $395.60. 2,393,747 shares of the stock were exchanged, compared to its average volume of 182,034. The company has a market cap of $4.64 billion, a PE ratio of 40.49 and a beta of 1.29. 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 company has a fifty day moving average price of $362.92 and a two-hundred day moving average price of $349.99. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 15.10% and a net margin of 11.12%. On average, analysts forecast that Kadant Inc. will post 10.11 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and set a $410.00 target price on shares of Kadant in a research report on Friday.

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.