Segall Bryant & Hamill LLC bought a new position in Kadant Inc. (NYSE:KAI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,153 shares of the industrial products company's stock, valued at approximately $11,206,000. Segall Bryant & Hamill LLC owned approximately 0.28% of Kadant as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Kadant in the third quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Kadant in the 2nd quarter worth $29,000. Park Place Capital Corp lifted its stake in Kadant by 68.6% in the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company's stock worth $69,000 after purchasing an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Kadant during the third quarter valued at about $74,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Kadant by 226.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company's stock valued at $80,000 after buying an additional 190 shares during the period. Institutional investors own 96.13% of the company's stock.
Kadant Trading Down 0.7 %
Shares of NYSE:KAI opened at $392.76 on Thursday. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $422.54. The company has a market cap of $4.61 billion, a PE ratio of 40.20 and a beta of 1.21. The stock has a 50 day moving average of $343.64 and a 200 day moving average of $315.87. 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 quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The firm had revenue of $271.61 million for the quarter, compared to analysts' expectations of $266.38 million. During the same quarter last year, the business posted $2.69 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts expect that Kadant Inc. will post 10.11 EPS for the current year.
Kadant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.33%. The ex-dividend date is Thursday, January 9th. Kadant's dividend payout ratio (DPR) is presently 13.10%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. DA Davidson raised their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Barrington Research reissued an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday, October 30th.
Get Our Latest Stock Analysis on KAI
Insider Activity
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 shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. This represents a 32.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rebecca Martinez O'mara sold 300 shares of Kadant stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the sale, the director now owns 1,293 shares of the company's stock, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,052 shares of company stock valued at $1,091,455. 1.40% of the stock is currently owned by company insiders.
About Kadant
(
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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