American Century Companies Inc. Reduces Position in Kadant Inc. (NYSE:KAI)

American Century Companies Inc. decreased its holdings in Kadant Inc. (NYSE:KAI) by 63.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,384 shares of the industrial products company’s stock after selling 5,867 shares during the quarter. American Century Companies Inc.’s holdings in Kadant were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new stake in Kadant in the 1st quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Kadant during the 2nd quarter valued at about $29,000. Parallel Advisors LLC lifted its position in shares of Kadant by 58.2% during the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Covestor Ltd lifted its holdings in Kadant by 31,600.0% in the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 316 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Kadant in the 1st quarter worth approximately $141,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KAI shares. DA Davidson boosted their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Kadant in a research report on Friday, September 20th.

Kadant Stock Up 0.9 %

Shares of NYSE KAI opened at $338.00 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.97 billion, a PE ratio of 35.21 and a beta of 1.21. The stock’s fifty day simple moving average is $320.32 and its two-hundred day simple moving average is $303.61. Kadant Inc. has a 12-month low of $214.21 and a 12-month high of $363.40.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The company had revenue of $275.00 million during the quarter, compared to analysts’ expectations of $263.50 million. During the same quarter in the previous year, the firm posted $2.54 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect that Kadant Inc. will post 9.93 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.38%. Kadant’s payout ratio is currently 13.33%.

Insider Activity at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

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.