Aptus Capital Advisors LLC Increases Stock Holdings in Kadant Inc. (NYSE:KAI)

Aptus Capital Advisors LLC boosted its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,585 shares of the industrial products company's stock after buying an additional 3,164 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.20% of Kadant worth $7,972,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Kadant in the 3rd quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in Kadant during the 2nd quarter worth approximately $29,000. Park Place Capital Corp lifted its holdings in shares of Kadant by 68.6% during the third 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 period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Kadant in the third quarter worth $74,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Kadant by 226.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 190 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Trading Down 1.1 %

Kadant stock traded down $4.47 during trading hours on Wednesday, reaching $392.89. 99,882 shares of the company's stock were exchanged, compared to its average volume of 80,865. The firm has a market capitalization of $4.61 billion, a PE ratio of 40.21 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. The firm's 50 day simple moving average is $334.70 and its 200 day simple moving average is $311.61. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $422.54.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.41. The business had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.69 earnings per share. Research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Thursday, October 10th. Kadant's payout ratio is 13.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson increased their price target on Kadant from $290.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Barrington Research reissued an "outperform" rating and set a $360.00 target price on shares of Kadant in a research report on Wednesday, October 30th.

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the firm's stock in a transaction that occurred 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 owns 4,250 shares of the company's stock, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

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.