UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in Kadant Inc. (NYSE:KAI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Kadant Inc. (NYSE:KAI) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,942 shares of the industrial products company’s stock after selling 418 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Kadant worth $10,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KAI. Xponance Inc. lifted its stake in Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after buying an additional 37 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Kadant by 1.1% in the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock worth $1,412,000 after acquiring an additional 45 shares during the last quarter. Wealth Alliance lifted its position in shares of Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 47 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock valued at $2,419,000 after acquiring an additional 48 shares during the last quarter. Finally, Associated Banc Corp increased its position in Kadant by 7.5% during the 3rd quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the sale, the director now directly owns 4,250 shares in the company, valued at $1,692,392.50. This represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. This trade represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,052 shares of company stock valued at $1,091,455 over the last quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kadant Price Performance

KAI stock opened at $408.16 on Monday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 41.78 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The stock’s fifty day simple moving average is $363.03 and its 200-day simple moving average is $327.01.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $2.69 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts expect that Kadant Inc. will post 10.11 EPS for the current year.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant’s dividend payout ratio (DPR) is 13.10%.

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.