Segall Bryant & Hamill LLC Makes New $11.21 Million Investment in Kadant Inc. (NYSE:KAI)

Segall Bryant & Hamill LLC acquired a new stake in shares of Kadant Inc. (NYSE:KAI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,153 shares of the industrial products company's stock, valued at approximately $11,206,000. Segall Bryant & Hamill LLC owned 0.28% of Kadant at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Kadant in the 3rd quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Kadant during the second quarter valued at about $29,000. Park Place Capital Corp boosted its stake in Kadant by 68.6% during the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company's stock valued at $69,000 after buying an additional 83 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Kadant in the 3rd quarter worth approximately $74,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Kadant by 226.2% during the 2nd 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 in the last quarter. 96.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kadant

In related news, Director Thomas C. Leonard sold 152 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total value of $60,527.92. Following the completion of the transaction, the director now directly owns 4,250 shares of the company's stock, valued at approximately $1,692,392.50. This represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $392.59, for a total value of $117,777.00. Following the transaction, the director now owns 1,293 shares in the company, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,052 shares of company stock worth $1,091,455. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DA Davidson boosted their price target on shares of Kadant from $290.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Barrington Research reiterated an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday, October 30th.

Kadant Trading Up 4.0 %

Kadant stock traded up $15.73 during midday trading on Thursday, reaching $408.42. The stock had a trading volume of 70,315 shares, compared to its average volume of 81,030. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $422.54. The company has a fifty day moving average of $345.53 and a 200 day moving average of $316.51. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 41.80 and a beta of 1.21. 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 announced its quarterly earnings data 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 company had revenue of $271.61 million for the quarter, compared to analysts' expectations of $266.38 million. During the same quarter in the prior year, the firm earned $2.69 earnings per share. Kadant's revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant's payout ratio is 13.10%.

Kadant Company 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.