Dimensional Fund Advisors LP Sells 5,372 Shares of Kadant Inc. (NYSE:KAI)

Dimensional Fund Advisors LP reduced its holdings in shares of Kadant Inc. (NYSE:KAI – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 388,950 shares of the industrial products company’s stock after selling 5,372 shares during the quarter. Dimensional Fund Advisors LP owned 3.34% of Kadant worth $69,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wasatch Advisors Inc. lifted its position in shares of Kadant by 3.6% during the 1st quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company’s stock worth $312,399,000 after buying an additional 55,595 shares during the last quarter. Neuberger Berman Group LLC raised its position in Kadant by 5.8% in the third quarter. Neuberger Berman Group LLC now owns 859,408 shares of the industrial products company’s stock valued at $143,358,000 after purchasing an additional 47,430 shares during the last quarter. Vanguard Group Inc. raised its position in Kadant by 1.4% in the third quarter. Vanguard Group Inc. now owns 622,495 shares of the industrial products company’s stock valued at $103,839,000 after purchasing an additional 8,394 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Kadant by 1.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 427,868 shares of the industrial products company’s stock valued at $76,002,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Kadant by 1.2% in the third quarter. Macquarie Group Ltd. now owns 425,221 shares of the industrial products company’s stock valued at $70,966,000 after purchasing an additional 4,895 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Kadant Trading Down 1.8 %

Shares of KAI stock opened at $189.00 on Friday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.67 and a beta of 1.19. The stock has a 50-day moving average of $195.22 and a 200-day moving average of $195.06. The company has a current ratio of 1.99, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26. Kadant Inc. has a 1-year low of $154.19 and a 1-year high of $221.27.

Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.27. Kadant had a return on equity of 17.12% and a net margin of 11.87%. The company had revenue of $229.80 million during the quarter, compared to analysts’ expectations of $221.63 million. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Kadant Inc. will post 9.02 earnings per share for the current year.

Kadant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 13th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.16 annualized dividend and a yield of 0.61%. Kadant’s dividend payout ratio is currently 12.58%.

Insider Buying and Selling

In related news, CFO Michael J. Mckenney sold 1,364 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $201.35, for a total transaction of $274,641.40. Following the completion of the sale, the chief financial officer now owns 21,988 shares of the company’s stock, valued at $4,427,283.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael J. Mckenney sold 1,301 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $200.07, for a total transaction of $260,291.07. Following the completion of the sale, the chief financial officer now owns 23,352 shares of the company’s stock, valued at $4,672,034.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Mckenney sold 1,364 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $201.35, for a total value of $274,641.40. Following the sale, the chief financial officer now directly owns 21,988 shares of the company’s stock, valued at approximately $4,427,283.80. The disclosure for this sale can be found here. Insiders sold 5,780 shares of company stock valued at $1,179,960 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KAI has been the subject of several research reports. Seaport Res Ptn reiterated a “neutral” rating on shares of Kadant in a research report on Monday, May 8th. StockNews.com initiated coverage on Kadant in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Barrington Research reiterated an “outperform” rating and issued a $229.00 target price on shares of Kadant in a research report on Monday, February 13th. Finally, DA Davidson increased their price target on Kadant from $182.00 to $205.00 in a research note on Friday, February 17th.

Kadant Profile

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Kadant Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The firm’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.