Strs Ohio Has $266,000 Stock Holdings in Kadant Inc. (NYSE:KAI)

Strs Ohio decreased its position in shares of Kadant Inc. (NYSE:KAI) by 74.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the industrial products company’s stock after selling 3,500 shares during the period. Strs Ohio’s holdings in Kadant were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP boosted its position in Kadant by 70.4% in the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock valued at $29,000 after buying an additional 57 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Kadant in the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its position in Kadant by 62.2% in the first quarter. Tower Research Capital LLC TRC now owns 318 shares of the industrial products company’s stock valued at $66,000 after buying an additional 122 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Kadant in the first quarter valued at approximately $101,000. Finally, Citigroup Inc. boosted its position in Kadant by 63.1% in the first quarter. Citigroup Inc. now owns 734 shares of the industrial products company’s stock valued at $153,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Price Performance

KAI stock opened at $235.28 on Thursday. The company has a fifty day moving average price of $222.46 and a 200-day moving average price of $212.10. The company has a market capitalization of $2.76 billion, a P/E ratio of 24.71 and a beta of 1.20. Kadant Inc. has a 52-week low of $164.70 and a 52-week high of $236.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 2.04.

Kadant (NYSE:KAI) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.45. Kadant had a net margin of 11.96% and a return on equity of 16.98%. The business had revenue of $244.18 million during the quarter, compared to the consensus estimate of $231.80 million. As a group, equities analysts expect that Kadant Inc. will post 9.27 EPS for the current year.

Kadant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, October 11th. Kadant’s dividend payout ratio is presently 12.18%.

Analyst Upgrades and Downgrades

KAI has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Kadant in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research note on Friday, July 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $243.00 price target on shares of Kadant in a research note on Friday, July 28th.

Insider Buying and Selling

In related news, VP Dara F. Mitchell sold 400 shares of Kadant stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $218.22, for a total transaction of $87,288.00. Following the completion of the transaction, the vice president now owns 108 shares of the company’s stock, valued at $23,567.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kadant news, VP Dara F. Mitchell sold 400 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $218.22, for a total value of $87,288.00. Following the completion of the sale, the vice president now directly owns 108 shares in the company, valued at $23,567.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dara F. Mitchell sold 1,307 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $219.73, for a total transaction of $287,187.11. Following the completion of the sale, the vice president now owns 508 shares of the company’s stock, valued at $111,622.84. The disclosure for this sale can be found here. Insiders sold 8,170 shares of company stock valued at $1,798,693 over the last quarter. Insiders own 1.40% of the company’s stock.

Kadant Profile

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.