33,859 Shares in Kadant Inc. (NYSE:KAI) Bought by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in Kadant Inc. (NYSE:KAI - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm purchased 33,859 shares of the industrial products company's stock, valued at approximately $11,345,000. Erste Asset Management GmbH owned 0.29% of Kadant at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Verition Fund Management LLC acquired a new stake in shares of Kadant in the 3rd quarter valued at approximately $317,000. Captrust Financial Advisors bought a new stake in Kadant during the 3rd quarter worth approximately $644,000. Icon Wealth Advisors LLC bought a new stake in Kadant during the 3rd quarter worth approximately $183,000. Hardy Reed LLC bought a new stake in Kadant during the 3rd quarter worth approximately $208,000. Finally, Townsquare Capital LLC increased its stake in Kadant by 8.0% during the 3rd quarter. Townsquare Capital LLC now owns 941 shares of the industrial products company's stock worth $318,000 after purchasing an additional 70 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kadant

In other Kadant news, Director Rebecca Martinez O'mara sold 300 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 1,293 shares of the company's stock, valued at $507,618.87. This trade represents a 18.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the sale, the director now directly owns 4,250 shares of the company's stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,052 shares of company stock valued at $1,091,455. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Kadant Stock Down 1.1 %

Shares of KAI traded down $4.72 during mid-day trading on Monday, hitting $408.07. 36,383 shares of the company's stock were exchanged, compared to its average volume of 81,977. The company has a market cap of $4.79 billion, a PE ratio of 41.89 and a beta of 1.21. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a 50-day simple moving average of $355.60 and a 200 day simple moving average of $322.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

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 for the quarter, topping the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to analysts' expectations of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $2.69 EPS. On average, research analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be paid a $0.32 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.31%. Kadant's dividend payout ratio is presently 13.10%.

About Kadant

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.