Sanctuary Advisors LLC Makes New $615,000 Investment in Kadant Inc. (NYSE:KAI)

Sanctuary Advisors LLC acquired a new position in Kadant Inc. (NYSE:KAI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,178 shares of the industrial products company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Kadant by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock worth $396,438,000 after buying an additional 15,512 shares during the period. Vanguard Group Inc. raised its position in shares of Kadant by 46.3% in 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kadant by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock worth $92,355,000 after acquiring an additional 5,700 shares in the last quarter. Capital World Investors bought a new position in shares of Kadant in the 1st quarter worth approximately $92,993,000. Finally, Raymond James & Associates raised its position in shares of Kadant by 6.5% in the 2nd quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock worth $24,712,000 after acquiring an additional 5,167 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

KAI stock opened at $328.81 on Tuesday. The company has a market cap of $3.86 billion, a P/E ratio of 34.25 and a beta of 1.21. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock’s fifty day moving average price is $317.68 and its 200-day moving average price is $303.81.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million for the quarter, compared to the consensus estimate of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. Kadant’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. On average, equities analysts forecast that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be issued 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 yield of 0.39%. Kadant’s dividend payout ratio is presently 13.33%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the sale, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

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.