Kadant Inc. (NYSE:KAI) Shares Sold by PDT Partners LLC

PDT Partners LLC reduced its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 23.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,819 shares of the industrial products company's stock after selling 1,787 shares during the quarter. PDT Partners LLC's holdings in Kadant were worth $1,967,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of KAI. Xponance Inc. grew its stake in shares of Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company's stock worth $219,000 after buying an additional 37 shares during the last quarter. Trust Point Inc. lifted its holdings in shares of Kadant by 1.1% in the 3rd 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. Wealth Alliance lifted its stake in Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company's stock worth $211,000 after purchasing an additional 47 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Kadant by 0.7% during 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 in the last quarter. Finally, Associated Banc Corp increased its holdings in Kadant by 7.5% during the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company's stock valued at $281,000 after buying an additional 58 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Kadant Price Performance

Shares of KAI stock traded up $9.33 during mid-day trading on Friday, hitting $412.79. 119,702 shares of the stock were exchanged, compared to its average volume of 90,301. The company has a market cap of $4.85 billion, a PE ratio of 42.25 and a beta of 1.21. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The firm has a fifty day moving average of $355.60 and a 200 day moving average of $322.19. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Kadant's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 EPS. Research analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.31%. Kadant's dividend payout ratio is currently 13.10%.

Analyst Ratings Changes

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

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now directly owns 4,250 shares of the company's stock, valued at approximately $1,433,950. The trade was a 32.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Fredrik H. Westerhout sold 600 shares of Kadant stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,052 shares of company stock worth $1,091,455 in the last 90 days. Insiders own 1.40% of the company's stock.

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.