Kadant Inc. (NYSE:KAI) Stock Holdings Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in Kadant Inc. (NYSE:KAI) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,812 shares of the industrial products company’s stock after selling 100 shares during the period. Nisa Investment Advisors LLC’s holdings in Kadant were worth $788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Kadant in the 4th quarter worth about $1,571,000. Trust Point Inc. bought a new stake in shares of Kadant during the 4th quarter valued at about $748,000. Stonegate Investment Group LLC bought a new stake in shares of Kadant during the 4th quarter valued at about $212,000. Raymond James & Associates grew its position in shares of Kadant by 137.9% during the 4th quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company’s stock valued at $23,028,000 after buying an additional 47,618 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kadant during the 4th quarter valued at about $165,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Barrington Research reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Kadant in a research report on Wednesday, February 14th.

Insider Buying and Selling at Kadant

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now directly owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the sale, the director now directly owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Stacy D. Krause sold 881 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $327.00, for a total transaction of $288,087.00. The disclosure for this sale can be found here. Insiders sold 8,798 shares of company stock valued at $2,899,004 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Kadant Trading Down 0.1 %

Kadant stock opened at $290.60 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $317.66 and a two-hundred day moving average price of $278.53. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 29.35 and a beta of 1.28. Kadant Inc. has a 52-week low of $183.19 and a 52-week high of $354.02.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.31. The firm had revenue of $238.68 million during the quarter, compared to analyst estimates of $227.54 million. Kadant had a net margin of 12.12% and a return on equity of 16.20%. Sell-side analysts expect that Kadant Inc. will post 9.98 earnings per share for the current year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 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 0.44%. This is a positive change from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. Kadant’s payout ratio is presently 12.93%.

Kadant Profile

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.