Avanza Fonder AB Takes $160,000 Position in Kadant Inc. (NYSE:KAI)

Avanza Fonder AB bought a new stake in Kadant Inc. (NYSE:KAI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 464 shares of the industrial products company’s stock, valued at approximately $160,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in shares of Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 37 shares in the last quarter. Franklin Resources Inc. lifted its position in Kadant by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after buying an additional 44 shares in the last quarter. Trust Point Inc. grew its stake in Kadant by 1.1% during the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock worth $1,412,000 after buying an additional 45 shares during the period. King Luther Capital Management Corp increased its position in shares of Kadant by 0.7% in the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 48 shares in the last quarter. Finally, Associated Banc Corp raised its stake in shares of Kadant by 7.5% in the 3rd quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research upped 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.

Kadant Stock Up 0.1 %

NYSE KAI opened at $367.34 on Monday. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The business has a 50 day moving average price of $376.73 and a two-hundred day moving average price of $343.09. The stock has a market cap of $4.31 billion, a PE ratio of 37.60 and a beta of 1.28.

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

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, January 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.35%. Kadant’s dividend payout ratio (DPR) is presently 13.10%.

Insiders Place Their Bets

In related news, VP Fredrik H. Westerhout sold 600 shares of Kadant stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the transaction, the vice president now directly owns 1,437 shares in the company, valued at approximately $570,848.25. This trade represents a 29.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the sale, the director now owns 1,293 shares in the company, valued at $507,618.87. The trade was a 18.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,052 shares of company stock worth $416,655 in the last three months. 1.40% of the stock is owned by insiders.

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.