Blair William & Co. IL Sells 168 Shares of Kadant Inc. (NYSE:KAI)

Blair William & Co. IL reduced its stake in shares of Kadant Inc. (NYSE:KAI) by 0.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,769 shares of the industrial products company’s stock after selling 168 shares during the period. Blair William & Co. IL owned about 0.20% of Kadant worth $6,983,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Kadant by 1,578.8% during the fourth quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock valued at $20,795,000 after purchasing an additional 69,766 shares during the period. Capital World Investors bought a new position in shares of Kadant during the 1st quarter worth $92,993,000. Vanguard Group Inc. increased its holdings in Kadant by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 661,286 shares of the industrial products company’s stock worth $185,365,000 after acquiring an additional 2,885 shares during the last quarter. Norges Bank bought a new stake in Kadant in the 4th quarter valued at about $6,917,000. Finally, Stifel Financial Corp lifted its holdings in Kadant by 2,082.5% during the fourth quarter. Stifel Financial Corp now owns 40,355 shares of the industrial products company’s stock valued at $11,312,000 after purchasing an additional 38,506 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

NYSE:KAI opened at $332.85 on Friday. The stock has a market cap of $3.91 billion, a P/E ratio of 34.67 and a beta of 1.21. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $320.19 and its two-hundred day moving average price is $303.37. Kadant Inc. has a twelve month low of $214.21 and a twelve month high of $363.40.

Kadant (NYSE:KAI) last announced its earnings results 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 business had revenue of $275.00 million for the quarter, compared to the consensus estimate of $263.50 million. During the same period last year, the firm posted $2.54 earnings per share. Kadant’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Kadant Inc. will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be paid a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. Kadant’s dividend payout ratio is presently 13.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on KAI shares. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Friday. DA Davidson increased their target price on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

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.