Virtu Financial LLC Takes Position in Kadant Inc. (NYSE:KAI)

Virtu Financial LLC purchased a new position in shares of Kadant Inc. (NYSE:KAI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,398 shares of the industrial products company’s stock, valued at approximately $392,000.

A number of other hedge funds also recently modified their holdings of KAI. Parallel Advisors LLC increased its stake in shares of Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Headinvest LLC bought a new position in shares of Kadant in the 3rd quarter valued at $25,000. First Horizon Advisors Inc. boosted its holdings in shares of Kadant by 37.0% during the 4th 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. Financial Management Professionals Inc. bought a new stake in Kadant during the 4th quarter worth $54,000. Finally, Eagle Bay Advisors LLC acquired a new position in Kadant in the 4th quarter worth about $94,000. Institutional investors own 96.13% of the company’s stock.

Kadant Price Performance

Shares of KAI opened at $280.18 on Wednesday. The business has a 50-day moving average of $281.55 and a 200-day moving average of $290.98. 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 company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 29.19 and a beta of 1.25. Kadant Inc. has a 1 year low of $196.99 and a 1 year high of $354.02.

Kadant (NYSE:KAI) last issued 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 net margin of 11.53% and a return on equity of 15.60%. The firm had revenue of $248.98 million for the quarter, compared to the consensus estimate of $245.56 million. During the same quarter in the previous year, the company earned $2.40 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Kadant Inc. will post 10.01 earnings per share for the current year.

Kadant Announces Dividend

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

Insider Activity

In other Kadant news, Director Erin L. Russell sold 1,112 shares of Kadant stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $279.25, for a total value of $310,526.00. Following the completion of the sale, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Stacy D. Krause sold 881 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $327.00, for a total value of $288,087.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erin L. Russell sold 1,112 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $279.25, for a total value 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. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KAI shares. William Blair restated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Wednesday, June 5th.

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.