Dudley & Shanley Inc. raised its position in Kadant Inc. (NYSE:KAI - Free Report) by 196.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,500 shares of the industrial products company's stock after purchasing an additional 21,545 shares during the period. Kadant accounts for approximately 1.7% of Dudley & Shanley Inc.'s portfolio, making the stock its 22nd biggest holding. Dudley & Shanley Inc. owned approximately 0.28% of Kadant worth $10,985,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KAI. Ashton Thomas Securities LLC purchased a new position in shares of Kadant in the third quarter worth about $25,000. Icon Wealth Advisors LLC purchased a new position in Kadant in the 3rd quarter worth approximately $28,000. Westside Investment Management Inc. purchased a new position in Kadant in the 3rd quarter worth approximately $31,000. Park Place Capital Corp boosted its holdings in shares of Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company's stock worth $69,000 after purchasing an additional 83 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Kadant in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 96.13% of the company's stock.
Kadant Trading Up 0.5 %
KAI stock traded up $1.86 during trading on Monday, reaching $348.93. 157,136 shares of the stock were exchanged, compared to its average volume of 85,393. 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 capitalization of $4.10 billion, a price-to-earnings ratio of 35.71 and a beta of 1.25. The business has a 50 day moving average price of $371.86 and a 200-day moving average price of $333.69. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95.
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, beating the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.69 EPS. On average, research 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. Shareholders of record on Thursday, January 9th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a yield of 0.37%. Kadant's payout ratio is currently 13.10%.
Analyst Ratings Changes
Separately, Barrington Research boosted their price objective on Kadant from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Thursday.
Check Out Our Latest Stock Report on Kadant
Insiders Place Their Bets
In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 4,250 shares of the company's stock, valued at approximately $1,433,950. The trade was a 32.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Rebecca Martinez O'mara sold 300 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $392.59, for a total value of $117,777.00. Following the transaction, the director now directly owns 1,293 shares in the company, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,052 shares of company stock valued at $1,091,455 over the last 90 days. 1.40% of the stock is owned by company insiders.
About Kadant
(
Free Report)
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.
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