Jane Street Group LLC Sells 9,491 Shares of Kadant Inc. (NYSE:KAI)

Jane Street Group LLC lessened its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 43.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,423 shares of the industrial products company's stock after selling 9,491 shares during the period. Jane Street Group LLC owned about 0.11% of Kadant worth $4,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KAI. F M Investments LLC purchased a new stake in shares of Kadant in the 2nd quarter worth $13,495,000. Erste Asset Management GmbH bought a new stake in Kadant during the third quarter valued at about $11,345,000. Segall Bryant & Hamill LLC purchased a new stake in Kadant in the third quarter worth about $11,206,000. Champlain Investment Partners LLC increased its position 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 worth $41,447,000 after buying an additional 31,675 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of 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 worth $13,872,000 after buying an additional 22,020 shares during the period. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insider Activity

In other Kadant news, VP Fredrik H. Westerhout sold 600 shares of the firm's stock in a transaction that occurred 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 owns 1,437 shares in the company, valued at $570,848.25. This trade represents a 29.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas C. Leonard sold 2,000 shares of Kadant 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 directly owns 4,250 shares in the company, valued at approximately $1,433,950. The trade was a 32.00 % 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 worth $1,091,455 over the last quarter. Insiders own 1.40% of the company's stock.

Kadant Price Performance

Kadant stock traded down $1.44 during mid-day trading on Wednesday, hitting $352.81. The stock had a trading volume of 304,217 shares, compared to its average volume of 84,143. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.14 billion, a P/E ratio of 36.11 and a beta of 1.25. The firm's 50 day moving average is $370.85 and its 200 day moving average is $332.32.

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 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 business had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. During the same period in the previous year, the business earned $2.69 earnings per share. The business's revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders 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 yield of 0.36%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant's dividend payout ratio (DPR) is currently 13.10%.

Analyst Upgrades and Downgrades

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

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.