Vanguard Group Inc. Acquires 2,885 Shares of Kadant Inc. (NYSE:KAI)

Vanguard Group Inc. lifted its holdings in shares of Kadant Inc. (NYSE:KAI) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 661,286 shares of the industrial products company’s stock after acquiring an additional 2,885 shares during the period. Vanguard Group Inc. owned approximately 5.64% of Kadant worth $185,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in shares of Kadant by 58.2% in the fourth 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 position 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 last quarter. Sheets Smith Wealth Management lifted its stake in Kadant by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock valued at $496,000 after acquiring an additional 80 shares in the last quarter. Headinvest LLC purchased a new position in Kadant during the 3rd quarter worth $25,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Kadant in the 4th quarter worth $54,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Trading Up 1.0 %

NYSE KAI opened at $293.24 on Wednesday. The business’s fifty day moving average is $280.67 and its 200-day moving average is $292.27. 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 $3.44 billion, a price-to-earnings ratio of 30.55 and a beta of 1.24. Kadant Inc. has a one year low of $196.99 and a one 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 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $245.56 million. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts predict that Kadant Inc. will post 10.03 EPS for the current year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio is currently 13.33%.

Insider Buying and Selling at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of Kadant 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 completion of the sale, the director now owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 target price on shares of Kadant in a report on Wednesday, June 26th.

About Kadant

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.