Kadant Inc. (NYSE:KAI) Holdings Raised by Sheets Smith Wealth Management

Sheets Smith Wealth Management increased its stake in Kadant Inc. (NYSE:KAI) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,769 shares of the industrial products company’s stock after buying an additional 80 shares during the quarter. Sheets Smith Wealth Management’s holdings in Kadant were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KAI. Bank of New York Mellon Corp boosted its holdings in shares of Kadant by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 66,615 shares of the industrial products company’s stock valued at $15,025,000 after acquiring an additional 852 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Kadant in the 3rd quarter worth $695,000. Principal Financial Group Inc. lifted its holdings in shares of Kadant by 24.4% in the third quarter. Principal Financial Group Inc. now owns 3,713 shares of the industrial products company’s stock valued at $837,000 after buying an additional 728 shares during the period. West Coast Financial LLC boosted its stake in Kadant by 0.3% during the third quarter. West Coast Financial LLC now owns 30,657 shares of the industrial products company’s stock valued at $6,915,000 after buying an additional 86 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Kadant by 27.2% during the third quarter. Victory Capital Management Inc. now owns 3,357 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 717 shares during the period. Institutional investors own 96.13% of the company’s stock.

Insider Transactions at Kadant

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the sale, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas C. Leonard sold 217 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the sale, the director now directly owns 11,080 shares in the company, valued at $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 in the last 90 days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on KAI. William Blair reiterated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Monday, April 29th.

Kadant Stock Up 3.5 %

Shares of Kadant stock traded up $9.41 on Monday, hitting $281.87. 52,314 shares of the company traded hands, compared to its average volume of 96,232. Kadant Inc. has a 12-month low of $186.99 and a 12-month high of $354.02. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.31 billion, a PE ratio of 28.38 and a beta of 1.30. The company has a 50-day moving average price of $307.75 and a 200 day moving average price of $283.24.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. Kadant had a return on equity of 15.88% and a net margin of 11.53%. The firm had revenue of $248.98 million for the quarter, compared to the consensus estimate of $245.56 million. During the same quarter in the previous year, the company posted $2.40 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Kadant Inc. will post 10 earnings per share for the current year.

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.45%. This is an increase from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. Kadant’s payout ratio is currently 13.33%.

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.