Sterling Capital Management LLC Has $2.24 Million Holdings in Kadant (KAI)

Sterling Capital Management LLC boosted its holdings in shares of Kadant (NYSE:KAI) by 19.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,269 shares of the industrial products company’s stock after purchasing an additional 3,595 shares during the quarter. Sterling Capital Management LLC’s holdings in Kadant were worth $2,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American International Group Inc. lifted its stake in Kadant by 8.1% during the third quarter. American International Group Inc. now owns 7,274 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 544 shares during the period. Swiss National Bank lifted its stake in Kadant by 4.5% during the fourth quarter. Swiss National Bank now owns 18,700 shares of the industrial products company’s stock worth $1,877,000 after purchasing an additional 800 shares during the period. SG Americas Securities LLC bought a new position in shares of Kadant in the fourth quarter valued at approximately $104,000. Meeder Asset Management Inc. raised its stake in shares of Kadant by 264.1% in the fourth quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 1,199 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Kadant by 2.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 63,349 shares of the industrial products company’s stock valued at $6,244,000 after acquiring an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 90.70% of the company’s stock.

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Kadant stock opened at $95.05 on Friday. Kadant has a one year low of $56.80 and a one year high of $114.00. The company has a quick ratio of 1.37, a current ratio of 2.01 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1,048.21, a P/E ratio of 34.44 and a beta of 1.36.

Kadant (NYSE:KAI) last posted its earnings results on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Kadant had a net margin of 6.04% and a return on equity of 15.93%. The company had revenue of $149.14 million during the quarter, compared to analysts’ expectations of $144.50 million. sell-side analysts forecast that Kadant will post 5.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, April 12th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, April 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Kadant’s previous quarterly dividend of $0.21. Kadant’s payout ratio is 30.43%.

In related news, VP Sandra L. Lambert sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $104.51, for a total value of $258,662.25. Following the completion of the transaction, the vice president now owns 13,190 shares in the company, valued at approximately $1,378,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sandra L. Lambert sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $100.01, for a total transaction of $400,040.00. Following the completion of the transaction, the vice president now owns 19,257 shares of the company’s stock, valued at approximately $1,925,892.57. The disclosure for this sale can be found here. Insiders sold 30,554 shares of company stock valued at $3,076,128 in the last quarter. 5.59% of the stock is currently owned by corporate insiders.

KAI has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Barrington Research reiterated an “outperform” rating and issued a $110.00 target price on shares of Kadant in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Kadant presently has an average rating of “Buy” and an average price target of $112.67.

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Kadant Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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