Royce & Associates LP Decreases Stock Holdings in Kadant Inc. (NYSE:KAI)

Royce & Associates LP trimmed its position in shares of Kadant Inc. (NYSE:KAI) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,318 shares of the industrial products company’s stock after selling 26,639 shares during the quarter. Kadant accounts for approximately 0.7% of Royce & Associates LP’s holdings, making the stock its 12th largest position. Royce & Associates LP’s holdings in Kadant were worth $81,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors bought a new stake in shares of Kadant during the 1st quarter valued at $92,993,000. Janus Henderson Group PLC lifted its holdings in shares of Kadant by 15.1% in the 1st quarter. Janus Henderson Group PLC now owns 22,324 shares of the industrial products company’s stock worth $7,321,000 after acquiring an additional 2,923 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Kadant by 46.3% during the first quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock valued at $317,482,000 after buying an additional 306,352 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Kadant by 133.3% in the second quarter. Hsbc Holdings PLC now owns 3,066 shares of the industrial products company’s stock worth $902,000 after purchasing an additional 1,752 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Kadant by 6.5% during the 2nd quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock worth $24,712,000 after buying an additional 5,167 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson boosted their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Kadant Trading Down 0.1 %

Shares of Kadant stock opened at $392.44 on Friday. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $422.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The stock has a market cap of $4.61 billion, a PE ratio of 40.17 and a beta of 1.21. The firm has a fifty day moving average price of $336.49 and a 200 day moving average price of $312.18.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. Kadant’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $2.69 earnings per share. Equities research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Thursday, October 10th. Kadant’s payout ratio is currently 13.10%.

Insider Activity at Kadant

In related 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 completion of the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Kadant 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.