Kadant Inc. (NYSE:KAI) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,291 shares of the industrial products company's stock after buying an additional 2,068 shares during the period. Janus Henderson Group PLC owned about 1.11% of Kadant worth $44,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KAI. F M Investments LLC acquired a new stake in Kadant in the second quarter valued at $13,495,000. Erste Asset Management GmbH acquired a new stake in Kadant in the third quarter valued at $11,345,000. Segall Bryant & Hamill LLC acquired a new stake in Kadant in the third quarter valued at $11,206,000. Champlain Investment Partners LLC raised its stake in Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company's stock valued at $41,447,000 after buying an additional 31,675 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Kadant by 87.4% in the second 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kadant news, Director Rebecca Martinez O'mara sold 300 shares of Kadant stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $392.59, for a total value of $117,777.00. Following the sale, the director now owns 1,293 shares of the company's stock, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,250 shares in the company, valued at $1,692,392.50. This represents a 3.45 % 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 over the last quarter. 1.40% of the stock is currently owned by insiders.

Kadant Stock Performance

Shares of KAI stock traded up $3.35 during mid-day trading on Friday, hitting $408.16. 50,421 shares of the stock were exchanged, compared to its average volume of 82,152. The stock's fifty day simple moving average is $361.57 and its two-hundred day simple moving average is $325.52. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 41.76 and a beta of 1.25. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $266.38 million. During the same quarter last year, the company posted $2.69 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Kadant Inc. will post 10.11 EPS for the current year.

Kadant Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant's dividend payout ratio is currently 13.10%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an "outperform" rating and set a $360.00 price objective on shares of Kadant in a report on Wednesday, October 30th.

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.