Cerity Partners LLC Purchases Shares of 1,591 Kadant Inc. (NYSE:KAI)

Cerity Partners LLC acquired a new stake in shares of Kadant Inc. (NYSE:KAI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,591 shares of the industrial products company’s stock, valued at approximately $538,000.

Other large investors have also modified their holdings of the company. Champlain Investment Partners LLC boosted its stake in shares of Kadant by 34.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock valued at $41,447,000 after purchasing an additional 31,675 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in Kadant in the third quarter valued at about $28,000. Citigroup Inc. grew its stake in Kadant by 223.1% during the third quarter. Citigroup Inc. now owns 14,893 shares of the industrial products company’s stock worth $5,034,000 after buying an additional 10,283 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kadant by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,241 shares of the industrial products company’s stock worth $40,979,000 after buying an additional 2,141 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Kadant in the third quarter valued at approximately $206,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $392.59, for a total transaction of $117,777.00. Following the sale, the director now owns 1,293 shares in the company, valued at $507,618.87. This represents a 18.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at $1,433,950. The trade was a 32.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,052 shares of company stock valued at $1,091,455. 1.40% of the stock is currently owned by corporate insiders.

Kadant Stock Up 0.8 %

Kadant stock opened at $408.16 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company’s 50-day moving average is $363.03 and its 200-day moving average is $326.66. The firm has a market capitalization of $4.79 billion, a PE ratio of 41.78 and a beta of 1.25. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95.

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

Kadant Announces Dividend

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

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.