Kadant Inc. (NYSE:KAI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its position in shares of Kadant Inc. (NYSE:KAI) by 95.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 148 shares of the industrial products company’s stock after selling 2,908 shares during the quarter. Quantbot Technologies LP’s holdings in Kadant were worth $50,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KAI. FMR LLC lifted its holdings in shares of Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after purchasing an additional 1,629 shares during the period. Associated Banc Corp increased its holdings in Kadant by 7.5% in the 3rd quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock worth $281,000 after buying an additional 58 shares during the period. Cerity Partners LLC purchased a new position in Kadant during the 3rd quarter worth approximately $538,000. Champlain Investment Partners LLC lifted its stake in Kadant by 34.8% during 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 acquiring an additional 31,675 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of Kadant in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Kadant

In related news, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the completion of the transaction, 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 transaction 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 firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares in the company, valued at $1,433,950. This represents a 32.00 % 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 90 days. Corporate insiders own 1.40% of the company’s stock.

Kadant Stock Up 0.8 %

Shares of KAI stock opened at $408.16 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The stock has a 50 day moving average of $363.03 and a 200 day moving average of $326.66. The stock has a market cap of $4.79 billion, a P/E ratio of 41.78 and a beta of 1.25.

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

Kadant Announces Dividend

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

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.