Kadant Inc. (NYSE:KAI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Kadant Inc. (NYSE:KAI) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,241 shares of the industrial products company’s stock after purchasing an additional 2,141 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.03% of Kadant worth $40,979,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KAI. Ashton Thomas Securities LLC acquired a new stake in Kadant in the third quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant in the 2nd quarter worth about $29,000. Park Place Capital Corp lifted its position in Kadant by 68.6% in the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Kadant during the 3rd quarter valued at about $74,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in Kadant by 226.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Insiders Place Their Bets

In related news, VP Fredrik H. Westerhout sold 600 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares in the company, valued at approximately $570,848.25. This represents a 29.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas C. Leonard sold 152 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the transaction, the director now owns 4,250 shares in the company, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,052 shares of company stock worth $1,091,455 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Kadant Trading Up 0.2 %

Shares of NYSE KAI opened at $413.80 on Tuesday. Kadant Inc. has a 12 month low of $249.51 and a 12 month high of $429.95. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 41.89 and a beta of 1.21. The business has a fifty day simple moving average of $355.60 and a 200-day simple moving average of $322.48.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same period in the previous year, the firm earned $2.69 earnings per share. Kadant’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts predict that Kadant Inc. will post 10.11 EPS for the current year.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 annualized dividend and a yield of 0.31%. Kadant’s dividend payout ratio is presently 13.10%.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research report on Wednesday, October 30th.

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.