DekaBank Deutsche Girozentrale Has $7.87 Million Position in Kadant Inc. (NYSE:KAI)

DekaBank Deutsche Girozentrale reduced its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,500 shares of the industrial products company's stock after selling 11,500 shares during the period. DekaBank Deutsche Girozentrale owned 0.20% of Kadant worth $7,867,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant during the 2nd quarter worth about $29,000. Park Place Capital Corp grew its holdings in Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company's stock worth $69,000 after acquiring an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Kadant during the 3rd quarter worth about $74,000. Benjamin F. Edwards & Company Inc. grew its holdings in Kadant by 226.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company's stock worth $80,000 after acquiring an additional 190 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Kadant by 31,600.0% during the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company's stock worth $104,000 after acquiring an additional 316 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Kadant Trading Down 0.8 %

NYSE KAI traded down $2.65 during trading on Thursday, reaching $333.06. 72,427 shares of the stock traded hands, compared to its average volume of 80,851. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 34.54 and a beta of 1.21. The stock's 50-day moving average price is $322.86 and its 200 day moving average price is $305.30. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. Kadant Inc. has a fifty-two week low of $217.85 and a fifty-two week high of $363.40.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.41. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same quarter in the previous year, the firm posted $2.69 earnings per share. The business's revenue was up 11.2% on a year-over-year basis. Analysts predict that Kadant Inc. will post 9.93 EPS for the current year.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant's payout ratio is currently 13.17%.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were 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 of the company's stock, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KAI shares. Barrington Research reaffirmed an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday. DA Davidson raised their target price on shares of Kadant from $290.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st.

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.