GHP Investment Advisors Inc. Reduces Stake in Kadant Inc. (NYSE:KAI)

GHP Investment Advisors Inc. cut its stake in Kadant Inc. (NYSE:KAI - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,448 shares of the industrial products company's stock after selling 866 shares during the period. GHP Investment Advisors Inc. owned 0.12% of Kadant worth $4,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zhang Financial LLC grew its holdings in Kadant by 0.8% in the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock valued at $1,813,000 after buying an additional 40 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Kadant by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock worth $1,483,000 after purchasing an additional 44 shares in the last quarter. Trust Point Inc. grew its position in Kadant by 1.1% in the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company's stock valued at $1,412,000 after acquiring an additional 45 shares during the last quarter. King Luther Capital Management Corp grew its position in Kadant by 0.7% in the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company's stock valued at $2,419,000 after acquiring an additional 48 shares during the last quarter. Finally, Associated Banc Corp grew its position in Kadant by 7.5% in the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company's stock valued at $281,000 after acquiring an additional 58 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Trading Up 0.9 %

Shares of Kadant stock traded up $3.40 during midday trading on Monday, reaching $368.23. The company had a trading volume of 34,863 shares, compared to its average volume of 89,115. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The stock has a fifty day moving average price of $367.55 and a 200 day moving average price of $348.41. The firm has a market cap of $4.32 billion, a PE ratio of 37.70 and a beta of 1.29.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, January 10th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, January 10th. Kadant's dividend payout ratio (DPR) is presently 13.10%.

Insider Buying and Selling at Kadant

In other Kadant news, VP Fredrik H. Westerhout sold 600 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $397.25, for a total value of $238,350.00. Following the transaction, the vice president now owns 1,437 shares of the company's stock, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca Martinez O'mara sold 300 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 1,293 shares in the company, valued at approximately $507,618.87. This represents a 18.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,052 shares of company stock valued at $416,655. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their price target on Kadant from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th.

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.