US Bancorp DE Has $653,000 Stock Position in Kadant Inc. (NYSE:KAI)

US Bancorp DE increased its stake in shares of Kadant Inc. (NYSE:KAI) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,933 shares of the industrial products company’s stock after buying an additional 116 shares during the quarter. US Bancorp DE’s holdings in Kadant were worth $653,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Kadant by 46.3% during the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock worth $317,482,000 after acquiring an additional 306,352 shares during the last quarter. Capital World Investors acquired a new stake in shares of Kadant during the 1st quarter worth approximately $92,993,000. F M Investments LLC bought a new stake in Kadant in the 2nd quarter valued at about $13,495,000. Allspring Global Investments Holdings LLC raised its holdings in Kadant by 87.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 47,219 shares of the industrial products company’s stock worth $13,872,000 after buying an additional 22,020 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Kadant by 28.4% in the 2nd quarter. Sei Investments Co. now owns 75,004 shares of the industrial products company’s stock worth $22,035,000 after acquiring an additional 16,595 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Trading Up 3.3 %

Shares of KAI stock opened at $399.83 on Monday. The company has a 50 day moving average of $329.41 and a 200-day moving average of $309.34. Kadant Inc. has a 12-month low of $244.95 and a 12-month high of $399.91. The firm has a market cap of $4.70 billion, a P/E ratio of 40.92 and a beta of 1.21. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.41%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $2.69 earnings per share. Sell-side analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, October 10th. Kadant’s dividend payout ratio is presently 13.10%.

Analysts Set New Price Targets

Several brokerages have recently commented on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson increased their price target on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Insider Transactions at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

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.