Callan Family Office LLC Makes New $205,000 Investment in Kadant Inc. (NYSE:KAI)

Callan Family Office LLC acquired a new position in Kadant Inc. (NYSE:KAI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 607 shares of the industrial products company’s stock, valued at approximately $205,000.

Other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Kadant during the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Kadant during the second quarter valued at approximately $29,000. Covestor Ltd grew its holdings in shares of Kadant by 31,600.0% during the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock valued at $104,000 after buying an additional 316 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Kadant during the first quarter valued at approximately $141,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Kadant during the second quarter valued at approximately $176,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Down 0.3 %

Shares of Kadant stock opened at $323.15 on Wednesday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 33.66 and a beta of 1.21. The company’s 50 day moving average is $317.45 and its 200 day moving average is $303.81. Kadant Inc. has a twelve month low of $214.21 and a twelve month high of $363.40. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42.

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

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.40%. Kadant’s payout ratio is presently 13.33%.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

KAI has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a report on Friday, September 20th. DA Davidson increased their price objective on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

About Kadant

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.