Kadant Inc. (NYSE:KAI) Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC trimmed its holdings in shares of Kadant Inc. (NYSE:KAI) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,859 shares of the industrial products company’s stock after selling 4,793 shares during the period. Mountain Pacific Investment Advisers LLC owned 0.48% of Kadant worth $19,616,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Kadant during the third quarter worth about $25,000. Hilltop National Bank bought a new stake in shares of Kadant in the 4th quarter worth approximately $26,000. Icon Wealth Advisors LLC bought a new stake in shares of Kadant in the 3rd quarter worth approximately $28,000. Westside Investment Management Inc. bought a new position in Kadant during the 3rd quarter worth $31,000. Finally, Park Place Capital Corp grew its stake in Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after buying an additional 83 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.

Kadant Price Performance

Shares of NYSE:KAI opened at $367.34 on Tuesday. The firm’s 50 day moving average is $375.95 and its two-hundred day moving average is $343.59. The firm has a market capitalization of $4.31 billion, a P/E ratio of 37.60 and a beta of 1.28. 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 Inc. has a 52 week low of $249.51 and a 52 week high of $429.95.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating 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 firm had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. During the same period last year, the firm earned $2.69 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity

In other news, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the sale, the vice president now owns 1,437 shares in the company, valued at approximately $570,848.25. This represents a 29.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca Martinez O’mara sold 300 shares of Kadant stock in a transaction 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 completion of the transaction, the director now owns 1,293 shares in the company, valued at $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. In the last ninety days, insiders have sold 1,052 shares of company stock worth $416,655. 1.40% of the stock is owned by company insiders.

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.