Beacon Pointe Advisors LLC Takes $208,000 Position in Kadant Inc. (NYSE:KAI)

Beacon Pointe Advisors LLC purchased a new stake in shares of Kadant Inc. (NYSE:KAI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 741 shares of the industrial products company’s stock, valued at approximately $208,000.

A number of other large investors have also recently modified their holdings of KAI. Headinvest LLC purchased a new position in shares of Kadant during the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. raised its holdings in shares of Kadant by 37.0% during the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Kadant during the 4th quarter valued at about $54,000. Eagle Bay Advisors LLC purchased a new position in shares of Kadant during the 4th quarter valued at about $94,000. Finally, SG Americas Securities LLC purchased a new position in shares of Kadant during the 4th quarter valued at about $165,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KAI shares. William Blair reissued an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research note on Monday, April 29th.

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the sale, the director now directly owns 11,080 shares in the company, valued at approximately $3,587,814.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction that occurred on 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 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 filing with the SEC, which is available through this link. Also, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 owns 11,080 shares in the company, valued at $3,587,814.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,798 shares of company stock worth $2,899,004. 1.40% of the stock is currently owned by insiders.

Kadant Price Performance

Shares of Kadant stock opened at $273.22 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. The business’s 50 day simple moving average is $294.30 and its two-hundred day simple moving average is $288.76. The stock has a market capitalization of $3.21 billion, a P/E ratio of 28.46 and a beta of 1.30. Kadant Inc. has a one year low of $186.99 and a one year high of $354.02.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.42. The business had revenue of $248.98 million for the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 EPS. Analysts forecast that Kadant Inc. will post 10.01 EPS for the current year.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.47%. Kadant’s dividend 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.