Charles Schwab Investment Management Inc. Grows Stake in Kadant Inc. (NYSE:KAI)

Charles Schwab Investment Management Inc. increased its stake in Kadant Inc. (NYSE:KAI - Free Report) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,241 shares of the industrial products company's stock after purchasing an additional 2,141 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.03% of Kadant worth $40,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. raised its position in shares of Kadant by 5.2% in the second quarter. Xponance Inc. now owns 744 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 37 shares during the period. Trust Point Inc. boosted its holdings in shares of Kadant by 1.1% in the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company's stock worth $1,412,000 after acquiring an additional 45 shares during the period. Wealth Alliance grew its position in shares of Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company's stock valued at $211,000 after purchasing an additional 47 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Kadant by 0.7% during the 3rd quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company's stock valued at $2,419,000 after purchasing an additional 48 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Kadant by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company's stock worth $963,000 after purchasing an additional 62 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

Kadant Price Performance

NYSE:KAI traded down $1.81 during trading hours on Tuesday, hitting $411.51. 116,738 shares of the company's stock traded hands, compared to its average volume of 82,415. The firm has a market cap of $4.83 billion, a P/E ratio of 42.08 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The business's fifty day simple moving average is $357.16 and its two-hundred day simple moving average is $323.43. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS 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 analyst estimates of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. Kadant's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.69 earnings per share. On average, research analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.32 per share. 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 0.31%. Kadant's payout ratio is 13.10%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Thomas C. Leonard sold 2,000 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now directly owns 4,250 shares of the company's stock, valued at approximately $1,433,950. This trade represents a 32.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Fredrik H. Westerhout sold 600 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares of the company's stock, valued at approximately $570,848.25. This trade represents a 29.46 % 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. 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.