Kadant Inc. (NYSE:KAI) Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Kadant Inc. (NYSE:KAI) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 504 shares of the industrial products company’s stock after purchasing an additional 178 shares during the quarter. KBC Group NV’s holdings in Kadant were worth $174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC raised its position in Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after acquiring an additional 1,629 shares in the last quarter. Dudley & Shanley Inc. boosted its position in Kadant by 196.7% during the third quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock worth $10,985,000 after purchasing an additional 21,545 shares in the last quarter. HighTower Advisors LLC grew its holdings in Kadant by 120.1% in the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 883 shares during the period. Synovus Financial Corp acquired a new stake in shares of Kadant in the third quarter valued at about $585,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Kadant by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company’s stock valued at $21,876,000 after acquiring an additional 24,358 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Price Performance

NYSE:KAI opened at $370.37 on Thursday. The stock has a 50 day moving average price of $369.19 and a 200 day moving average price of $348.02. The stock has a market cap of $4.35 billion, a PE ratio of 37.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, January 10th. This represents a $1.28 annualized dividend and a dividend yield of 0.35%. Kadant’s dividend payout ratio is presently 13.10%.

Analyst Upgrades and Downgrades

Separately, Barrington Research boosted their price target on shares of Kadant from $360.00 to $410.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Insider Activity

In related news, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $392.59, for a total value of $117,777.00. Following the transaction, the director now directly owns 1,293 shares in the company, valued at approximately $507,618.87. This represents a 18.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total value of $60,527.92. Following the sale, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,052 shares of company stock valued at $416,655. 1.40% of the stock is currently owned by insiders.

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.