Kadant Inc. (NYSE:KAI) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its position in Kadant Inc. (NYSE:KAI) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,858 shares of the industrial products company’s stock after selling 2,499 shares during the quarter. Goldman Sachs Group Inc. owned about 0.72% of Kadant worth $23,787,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Headinvest LLC acquired a new position in Kadant in the third quarter valued at approximately $25,000. Parallel Advisors LLC increased 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 worth $30,000 after purchasing an additional 39 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Kadant by 37.0% in the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares during the period. Financial Management Professionals Inc. acquired a new position in Kadant in the fourth quarter valued at about $54,000. Finally, Eagle Bay Advisors LLC purchased a new position in Kadant during the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research note on Wednesday, June 5th. William Blair reissued an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th.

Insider Activity at Kadant

In other Kadant news, Director Erin L. Russell sold 1,112 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $279.25, for a total value of $310,526.00. Following the sale, the director now owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Kadant Stock Performance

NYSE KAI opened at $286.90 on Tuesday. 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 cap of $3.37 billion, a P/E ratio of 29.89 and a beta of 1.25. The stock has a 50-day moving average of $280.13 and a two-hundred day moving average of $291.55. Kadant Inc. has a 1-year low of $196.99 and a 1-year high of $354.02.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. The firm had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 earnings per share. As a group, analysts anticipate that Kadant Inc. will post 10.03 EPS for the current year.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is currently 13.33%.

Kadant Company 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.