758 Shares in Kadant Inc. (NYSE:KAI) Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC acquired a new position in Kadant Inc. (NYSE:KAIFree Report) during the 4th quarter, HoldingsChannel reports. The fund acquired 758 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other institutional investors also recently bought and sold shares of KAI. Headinvest LLC acquired a new stake in Kadant in the 3rd quarter worth about $25,000. Dark Forest Capital Management LP boosted its holdings in Kadant by 70.4% in the 1st quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Kadant in the 4th quarter worth about $33,000. Comerica Bank acquired a new stake in Kadant in the 3rd quarter worth about $51,000. Finally, Financial Management Professionals Inc. acquired a new stake in Kadant in the 4th quarter worth about $54,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KAI has been the topic of several recent research reports. StockNews.com cut Kadant from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Barrington Research restated an “outperform” rating and set a $300.00 target price on shares of Kadant in a report on Wednesday, February 14th.

Read Our Latest Stock Report on KAI

Insider Buying and Selling at Kadant

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $330.25, for a total value of $2,311,750.00. Following the sale, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Stacy D. Krause sold 881 shares of Kadant stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $327.00, for a total value of $288,087.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The disclosure for this sale can be found here. Insiders have sold a total of 8,798 shares of company stock valued at $2,899,004 over the last quarter. 1.40% of the stock is owned by company insiders.

Kadant Stock Down 1.8 %

KAI stock opened at $309.18 on Thursday. The firm has a market cap of $3.63 billion, a PE ratio of 31.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05. The firm’s 50 day moving average price is $315.46 and its 200-day moving average price is $273.38. Kadant Inc. has a one year low of $183.19 and a one year high of $354.02.

Kadant (NYSE:KAIGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.10 by $0.31. The firm had revenue of $238.68 million for the quarter, compared to analyst estimates of $227.54 million. Kadant had a net margin of 12.12% and a return on equity of 16.20%. On average, equities research analysts anticipate that Kadant Inc. will post 9.98 EPS for the current year.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Tuesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.29. Kadant’s payout ratio is presently 11.72%.

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.

Further Reading

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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