Handelsbanken Fonder AB increased its position in Kadant (NYSE:KAI) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 350,000 shares of the industrial products company’s stock after buying an additional 20,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kadant were worth $35,140,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Kadant by 4.8% in the 4th quarter. BlackRock Inc. now owns 1,138,121 shares of the industrial products company’s stock worth $114,267,000 after buying an additional 52,518 shares during the last quarter. Macquarie Group Ltd. lifted its position in Kadant by 6.8% in the 4th quarter. Macquarie Group Ltd. now owns 541,570 shares of the industrial products company’s stock worth $54,374,000 after buying an additional 34,614 shares during the last quarter. Royce & Associates LP lifted its position in Kadant by 43.5% in the 4th quarter. Royce & Associates LP now owns 384,519 shares of the industrial products company’s stock worth $38,606,000 after buying an additional 116,547 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Kadant by 2.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 226,042 shares of the industrial products company’s stock worth $22,547,000 after buying an additional 5,164 shares during the last quarter. Finally, Cortina Asset Management LLC lifted its position in Kadant by 2.7% in the 4th quarter. Cortina Asset Management LLC now owns 187,004 shares of the industrial products company’s stock worth $18,775,000 after buying an additional 4,880 shares during the last quarter. Institutional investors own 90.70% of the company’s stock.
Kadant stock opened at $100.05 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.01 and a quick ratio of 1.37. The company has a market capitalization of $1,101.70, a P/E ratio of 36.25 and a beta of 1.36. Kadant has a 12 month low of $56.15 and a 12 month high of $114.00.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. The business had revenue of $149.14 million for the quarter, compared to analysts’ expectations of $144.50 million. Kadant had a return on equity of 15.93% and a net margin of 6.04%. equities analysts predict that Kadant will post 5.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, April 12th will be paid a $0.22 dividend. This is a boost from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, April 11th. Kadant’s payout ratio is 30.43%.
In other Kadant news, VP Sandra L. Lambert sold 2,475 shares of Kadant stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $104.51, for a total value of $258,662.25. Following the transaction, the vice president now directly owns 13,190 shares of the company’s stock, valued at approximately $1,378,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric T. Langevin sold 7,000 shares of Kadant stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $99.62, for a total value of $697,340.00. Following the completion of the transaction, the chief operating officer now directly owns 34,382 shares in the company, valued at $3,425,134.84. The disclosure for this sale can be found here. Insiders sold a total of 37,554 shares of company stock worth $3,773,468 over the last ninety days. Insiders own 5.59% of the company’s stock.
A number of analysts recently weighed in on KAI shares. ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Kadant in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $112.67.
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Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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