Kadant Inc. (NYSE:KAI) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in Kadant Inc. (NYSE:KAI) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,380 shares of the industrial products company’s stock after acquiring an additional 211 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kadant were worth $804,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in 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 purchasing an additional 306,352 shares during the period. Capital World Investors acquired a new stake in Kadant during the first quarter worth about $92,993,000. F M Investments LLC purchased a new position in Kadant during the second quarter valued at approximately $13,495,000. Allspring Global Investments Holdings LLC lifted its holdings in Kadant by 87.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 47,219 shares of the industrial products company’s stock valued at $13,872,000 after acquiring an additional 22,020 shares during the period. Finally, Sei Investments Co. boosted its position in 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 purchasing an additional 16,595 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

KAI has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a research note on Friday, September 20th. DA Davidson upped their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Kadant Trading Down 2.0 %

Shares of KAI stock opened at $328.09 on Monday. Kadant Inc. has a 1-year low of $214.21 and a 1-year high of $363.40. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 33.75 and a beta of 1.21. 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 has a 50 day simple moving average of $320.32 and a 200-day simple moving average of $304.18.

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

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.39%. Kadant’s dividend payout ratio (DPR) is currently 13.17%.

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.