Intech Investment Management LLC Purchases Shares of 2,384 Kadant Inc. (NYSE:KAI)

Intech Investment Management LLC bought a new stake in shares of Kadant Inc. (NYSE:KAI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,384 shares of the industrial products company's stock, valued at approximately $806,000.

Several other institutional investors also recently made changes to their positions in KAI. F M Investments LLC bought a new position in Kadant in the 2nd quarter worth approximately $13,495,000. Segall Bryant & Hamill LLC bought a new position in Kadant in the 3rd quarter worth approximately $11,206,000. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $13,872,000 after buying an additional 22,020 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kadant in the 3rd quarter worth approximately $5,847,000. Finally, Sei Investments Co. grew its holdings in Kadant by 28.4% in the 2nd quarter. Sei Investments Co. now owns 75,004 shares of the industrial products company's stock worth $22,035,000 after buying an additional 16,595 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

Kadant Price Performance

KAI traded up $9.33 during trading on Friday, reaching $412.79. The stock had a trading volume of 119,702 shares, compared to its average volume of 82,182. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 42.25 and a beta of 1.21. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The stock has a 50 day moving average of $355.60 and a two-hundred day moving average of $321.91.

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

Kadant Dividend Announcement

The business also recently disclosed 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%.

Analyst Ratings Changes

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

Insider Activity

In other Kadant news, Director Thomas C. Leonard sold 152 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction 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. The trade was a 3.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fredrik H. Westerhout sold 600 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the transaction, the vice president now directly owns 1,437 shares in the company, valued at $570,848.25. This trade represents a 29.46 % decrease in their ownership of the stock. 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. Insiders own 1.40% of the company's stock.

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.