Raymond James & Associates Sells 2,796 Shares of Kadant Inc. (NYSE:KAI)

Raymond James & Associates cut its holdings in Kadant Inc. (NYSE:KAIGet Rating) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,277 shares of the industrial products company’s stock after selling 2,796 shares during the period. Raymond James & Associates owned approximately 0.35% of Kadant worth $6,719,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KAI. Lazard Asset Management LLC acquired a new position in Kadant during the 1st quarter worth $47,000. Asset Management One Co. Ltd. acquired a new position in Kadant during the 2nd quarter worth $124,000. Quantbot Technologies LP acquired a new position in Kadant during the 2nd quarter worth $268,000. Engineers Gate Manager LP acquired a new position in Kadant during the 1st quarter worth $287,000. Finally, Raymond James Trust N.A. lifted its position in Kadant by 11.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 175 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Kadant Stock Performance

NYSE:KAI opened at $201.20 on Friday. The firm’s 50-day moving average is $184.40 and its 200-day moving average is $182.38. Kadant Inc. has a 52-week low of $154.19 and a 52-week high of $220.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.15 and a current ratio of 1.88. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.66 and a beta of 1.18.

Kadant (NYSE:KAIGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.28. Kadant had a net margin of 13.35% and a return on equity of 18.08%. The company had revenue of $224.51 million for the quarter, compared to the consensus estimate of $217.42 million. Equities research analysts anticipate that Kadant Inc. will post 8.9 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Thursday, January 5th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Kadant’s dividend payout ratio (DPR) is currently 10.21%.

Analyst Ratings Changes

A number of research firms have weighed in on KAI. StockNews.com raised shares of Kadant from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 30th. Barrington Research cut their target price on shares of Kadant from $239.00 to $229.00 in a research report on Thursday, November 3rd.

About Kadant

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Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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