SG Americas Securities LLC reduced its position in Kadant Inc. (NYSE:KAI - Free Report) by 94.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567 shares of the industrial products company's stock after selling 9,768 shares during the period. SG Americas Securities LLC's holdings in Kadant were worth $196,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sheets Smith Wealth Management lifted its stake in shares of Kadant by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company's stock valued at $772,000 after purchasing an additional 69 shares in the last quarter. Zhang Financial LLC lifted its position in Kadant by 0.8% during the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock worth $1,813,000 after acquiring an additional 40 shares in the last quarter. Avanza Fonder AB acquired a new position in Kadant during the 4th quarter worth approximately $160,000. Hilltop National Bank acquired a new position in Kadant during the 4th quarter worth approximately $26,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Kadant by 63.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,293 shares of the industrial products company's stock worth $437,000 after acquiring an additional 500 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, VP Fredrik H. Westerhout sold 600 shares of the business'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 value of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares in the company, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rebecca Martinez O'mara sold 300 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the completion of the sale, the director now owns 1,293 shares of the company's stock, valued at $507,618.87. This trade represents a 18.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,052 shares of company stock worth $416,655 in the last three months. 1.40% of the stock is owned by insiders.
Kadant Stock Down 1.6 %
KAI stock traded down $6.00 during midday trading on Wednesday, hitting $358.35. 102,252 shares of the company's stock were exchanged, compared to its average volume of 90,555. 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 Inc. has a 12-month low of $249.51 and a 12-month high of $429.95. The firm has a 50 day moving average price of $365.70 and a 200-day moving average price of $348.63. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 36.68 and a beta of 1.29.
Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 15.10% and a net margin of 11.12%. On average, analysts anticipate that Kadant Inc. will post 10.11 EPS for the current year.
Kadant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Friday, January 10th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, January 10th. This represents a $1.28 annualized dividend and a yield of 0.36%. Kadant's dividend payout ratio is presently 13.10%.
Analyst Ratings Changes
Separately, Barrington Research boosted their price target on Kadant from $360.00 to $410.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th.
View Our Latest Research Report on Kadant
Kadant Profile
(
Free Report)
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.
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