Kadant Inc. (NYSE:KAI) Stock Position Decreased by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC lessened its holdings in shares of Kadant Inc. (NYSE:KAIFree Report) by 63.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 736 shares of the industrial products company’s stock after selling 1,294 shares during the period. Capstone Investment Advisors LLC’s holdings in Kadant were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Headinvest LLC bought a new position in Kadant in the 3rd quarter worth about $25,000. Benjamin F. Edwards & Company Inc. bought a new position in Kadant in the 1st quarter worth about $28,000. Parallel Advisors LLC grew its position in Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Kadant by 37.0% in the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 50 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new position in shares of Kadant in the fourth quarter valued at approximately $54,000. Institutional investors own 96.13% of the company’s stock.

Kadant Trading Up 1.6 %

Kadant stock opened at $306.56 on Thursday. The firm has a 50 day simple moving average of $283.21 and a 200-day simple moving average of $293.09. 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 capitalization of $3.60 billion, a PE ratio of 31.93 and a beta of 1.24. Kadant Inc. has a 12-month low of $196.99 and a 12-month high of $354.02.

Kadant (NYSE:KAIGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.96 by $0.42. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The business had revenue of $248.98 million during the quarter, compared to analyst estimates of $245.56 million. During the same period in the prior year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Kadant Inc. will post 10.03 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.42%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio is presently 13.33%.

Analysts Set New Price Targets

Several research firms have recently issued reports on KAI. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a report on Wednesday, June 26th. William Blair reiterated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Get Our Latest Report on KAI

Insider Activity at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the completion of the sale, the director now directly owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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