Simplicity Solutions LLC Makes New Investment in Kadant Inc. (NYSE:KAI)

Simplicity Solutions LLC bought a new position in Kadant Inc. (NYSE:KAI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,885 shares of the industrial products company’s stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates grew its stake in Kadant by 137.9% in the 4th quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company’s stock worth $23,028,000 after acquiring an additional 47,618 shares during the period. Vanguard Group Inc. grew its stake in Kadant by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 658,401 shares of the industrial products company’s stock worth $148,502,000 after acquiring an additional 4,529 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Kadant by 27.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 50,858 shares of the industrial products company’s stock worth $11,415,000 after acquiring an additional 10,858 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Kadant in the 3rd quarter worth approximately $110,849,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in Kadant by 50.1% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 57,053 shares of the industrial products company’s stock worth $12,868,000 after acquiring an additional 19,047 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction on 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 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 filing with the SEC, which can be accessed through the SEC website. In related news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction on 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 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Stacy D. Krause sold 700 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total transaction of $228,900.00. Following the sale, the senior vice president now directly owns 881 shares of the company’s stock, valued at $288,087. The disclosure for this sale can be found here. In the last three months, insiders sold 8,798 shares of company stock valued at $2,899,004. Company insiders own 1.40% of the company’s stock.

Kadant Stock Down 0.6 %

Shares of NYSE KAI opened at $283.50 on Friday. Kadant Inc. has a 52-week low of $183.19 and a 52-week high of $354.02. The firm has a fifty day moving average of $317.14 and a 200-day moving average of $278.61. The stock has a market capitalization of $3.33 billion, a PE ratio of 28.64 and a beta of 1.27. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The company had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $227.54 million. On average, analysts anticipate that Kadant Inc. will post 9.98 EPS for the current year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.45%. This is a boost from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 9th. Kadant’s dividend payout ratio is 12.93%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $300.00 price objective on shares of Kadant in a research note on Wednesday, February 14th. StockNews.com cut shares of Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th.

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.