8,753 Shares in Kadant Inc. (NYSE:KAI) Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC purchased a new position in Kadant Inc. (NYSE:KAIFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,753 shares of the industrial products company’s stock, valued at approximately $2,454,000. Corient Private Wealth LLC owned about 0.07% of Kadant at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its position in shares of Kadant by 37.0% in the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 50 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Kadant by 1.6% during the third quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company’s stock worth $752,000 after buying an additional 53 shares during the period. Sheets Smith Wealth Management grew its holdings in shares of Kadant by 4.7% during the fourth quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock valued at $496,000 after buying an additional 80 shares during the last quarter. Headinvest LLC acquired a new position in shares of Kadant in the 3rd quarter valued at $25,000. Finally, Financial Management Professionals Inc. purchased a new position in Kadant in the 4th quarter worth $54,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research note on Monday, April 29th. William Blair reaffirmed an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Get Our Latest Stock Report on KAI

Insider Activity

In related news, SVP Stacy D. Krause sold 700 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total transaction of $228,900.00. Following the sale, the senior vice president now owns 881 shares in the company, valued at $288,087. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Thomas C. Leonard sold 217 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total transaction of $70,266.77. Following the completion of the sale, the director now owns 11,080 shares of the company’s stock, valued at $3,587,814.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacy D. Krause sold 700 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total transaction of $228,900.00. Following the completion of the transaction, the senior vice president now directly owns 881 shares in the company, valued at $288,087. The disclosure for this sale can be found here. Insiders sold a total of 1,798 shares of company stock valued at $587,254 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Kadant Trading Up 2.1 %

Shares of Kadant stock opened at $275.71 on Friday. Kadant Inc. has a 1 year low of $186.99 and a 1 year high of $354.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. The stock has a market cap of $3.24 billion, a PE ratio of 28.72 and a beta of 1.30. The firm has a fifty day moving average price of $290.50 and a 200 day moving average price of $288.89.

Kadant (NYSE:KAIGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. The business had revenue of $248.98 million during the quarter, compared to analyst estimates of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Equities research analysts predict that Kadant Inc. will post 10.01 earnings per share for the current year.

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.46%. Kadant’s payout ratio is 13.33%.

Kadant Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.