Quantbot Technologies LP Has $50,000 Stake in Kadant Inc. (NYSE:KAI)

Quantbot Technologies LP cut its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 95.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148 shares of the industrial products company's stock after selling 2,908 shares during the period. Quantbot Technologies LP's holdings in Kadant were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Kadant in the third quarter valued at about $25,000. Icon Wealth Advisors LLC acquired a new position in Kadant in the third quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Kadant in the second quarter valued at about $29,000. Park Place Capital Corp lifted its holdings in shares of Kadant by 68.6% in the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Kadant in the third quarter valued at about $74,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Stock Up 0.8 %

Shares of Kadant stock traded up $3.35 during trading on Friday, reaching $408.16. The stock had a trading volume of 50,424 shares, compared to its average volume of 95,564. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 41.78 and a beta of 1.25. The stock has a fifty day moving average price of $363.03 and a two-hundred day moving average price of $326.66. Kadant Inc. has a 52 week low of $249.51 and a 52 week 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.

Kadant (NYSE:KAI - Get Free Report) last released its earnings results 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 business had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same quarter in the prior year, the company posted $2.69 earnings per share. Kadant's revenue was up 11.2% on a year-over-year basis. Sell-side analysts predict that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 annualized dividend and a yield of 0.31%. Kadant's payout ratio is presently 13.10%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the company'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 sale, the director now owns 4,250 shares in the company, valued at $1,433,950. This represents a 32.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Fredrik H. Westerhout sold 600 shares of the company's stock in a transaction that occurred on 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 owns 1,437 shares in the company, valued at $570,848.25. This represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,052 shares of company stock worth $1,091,455. Corporate 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.