Quantum Private Wealth LLC Acquires Shares of 1,021 Kadant Inc. (NYSE:KAI)

Quantum Private Wealth LLC bought a new position in shares of Kadant Inc. (NYSE:KAI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,021 shares of the industrial products company’s stock, valued at approximately $286,000.

Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kadant by 640.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,119 shares of the industrial products company’s stock worth $2,556,000 after purchasing an additional 7,888 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Kadant during the fourth quarter worth $205,000. Strs Ohio increased its holdings in shares of Kadant by 200.0% during the fourth quarter. Strs Ohio now owns 600 shares of the industrial products company’s stock worth $168,000 after buying an additional 400 shares in the last quarter. Simplicity Solutions LLC acquired a new stake in shares of Kadant during the 4th quarter valued at $528,000. Finally, NewEdge Wealth LLC bought a new stake in Kadant during the 4th quarter worth $2,702,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kadant

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the sale, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the transaction, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas C. Leonard sold 217 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total transaction of $70,266.77. Following the sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,798 shares of company stock worth $2,899,004 over the last quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KAI has been the subject of a number of research reports. StockNews.com lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Barrington Research reiterated an “outperform” rating and set a $300.00 price target on shares of Kadant in a report on Wednesday, February 14th.

Kadant Trading Up 0.0 %

Shares of KAI stock traded up $0.11 on Wednesday, hitting $291.03. The company had a trading volume of 50,135 shares, compared to its average volume of 76,865. Kadant Inc. has a twelve month low of $183.19 and a twelve month high of $354.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05. The firm has a market cap of $3.42 billion, a P/E ratio of 29.35 and a beta of 1.27. The stock’s 50-day moving average is $317.66 and its two-hundred day moving average is $278.53.

Kadant (NYSE:KAI) last released its earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The business had revenue of $238.68 million during the quarter, compared to the consensus estimate of $227.54 million. On average, equities research analysts anticipate that Kadant Inc. will post 9.98 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be issued a $0.32 dividend. This is a positive change from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. This represents a $1.28 annualized dividend and a yield of 0.44%. Kadant’s payout ratio is presently 12.93%.

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.