Kadant Inc. (NYSE:KAI) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lessened its holdings in shares of Kadant Inc. (NYSE:KAI) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,198 shares of the industrial products company’s stock after selling 210 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Kadant were worth $1,103,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Kadant during the 3rd quarter worth approximately $25,000. Hilltop National Bank acquired a new position in shares of Kadant in the fourth quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in shares of Kadant during the third quarter worth $28,000. Westside Investment Management Inc. purchased a new stake in shares of Kadant during the third quarter worth $31,000. Finally, Park Place Capital Corp raised its stake in shares of Kadant by 68.6% in the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research boosted their target price on Kadant from $360.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th.

Kadant Stock Up 0.1 %

Shares of NYSE:KAI opened at $367.34 on Monday. 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 Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 37.60 and a beta of 1.28. The firm’s 50 day moving average price is $376.73 and its 200 day moving average price is $343.09.

Kadant (NYSE:KAI) last released 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. The business had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.69 EPS. As a group, equities research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 10th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.35%. Kadant’s payout ratio is currently 13.10%.

Insider Transactions at Kadant

In related news, Director Rebecca Martinez O’mara sold 300 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the transaction, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. This trade represents a 18.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the sale, the director now owns 4,250 shares in the company, valued at $1,692,392.50. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,052 shares of company stock valued at $416,655. Corporate 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.