Allianz Asset Management GmbH Purchases Shares of 4,983 Kadant Inc. (NYSE:KAI)

Allianz Asset Management GmbH acquired a new position in shares of Kadant Inc. (NYSE:KAIFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,983 shares of the industrial products company’s stock, valued at approximately $1,397,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates lifted its stake in Kadant by 137.9% during the fourth quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company’s stock worth $23,028,000 after purchasing an additional 47,618 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kadant in the 4th quarter valued at $1,571,000. Vanguard Group Inc. grew its position in shares of Kadant by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 658,401 shares of the industrial products company’s stock valued at $148,502,000 after buying an additional 4,529 shares during the last quarter. Wells Fargo & Company MN raised its stake in Kadant by 1,578.8% during the 4th quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock worth $20,795,000 after acquiring an additional 69,766 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kadant by 640.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,119 shares of the industrial products company’s stock valued at $2,556,000 after acquiring an additional 7,888 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Trading Down 2.5 %

Shares of Kadant stock opened at $272.58 on Monday. The company’s fifty day moving average is $284.91 and its two-hundred day moving average is $290.14. Kadant Inc. has a 1 year low of $196.99 and a 1 year high of $354.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05. The company has a market capitalization of $3.20 billion, a P/E ratio of 28.39 and a beta of 1.25.

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

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KAI. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Kadant in a report on Wednesday, June 5th. William Blair reissued an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th.

Get Our Latest Research Report on Kadant

Insider Transactions at Kadant

In related news, 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 value of $228,900.00. Following the completion of the sale, the senior vice president now owns 881 shares in the company, valued at $288,087. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kadant news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erin L. Russell sold 1,112 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $279.25, for a total transaction of $310,526.00. Following the transaction, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The disclosure for this sale can be found here. Insiders have sold a total of 2,693 shares of company stock worth $827,513 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Kadant 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.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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