Invictus RG purchased a new position in Kadant Inc (NYSE:KAI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,830 shares of the industrial products company’s stock, valued at approximately $476,000.
Other hedge funds have also bought and sold shares of the company. Teachers Advisors LLC increased its position in Kadant by 40.8% during the first quarter. Teachers Advisors LLC now owns 24,684 shares of the industrial products company’s stock valued at $1,465,000 after acquiring an additional 7,157 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kadant by 4.5% during the first quarter. Vanguard Group Inc. now owns 455,242 shares of the industrial products company’s stock valued at $27,019,000 after purchasing an additional 19,603 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Kadant by 13.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 53,169 shares of the industrial products company’s stock valued at $3,156,000 after purchasing an additional 6,120 shares during the period. Bank of America Corp DE grew its holdings in Kadant by 48.6% during the first quarter. Bank of America Corp DE now owns 31,891 shares of the industrial products company’s stock valued at $1,893,000 after purchasing an additional 10,434 shares during the period. Finally, State Street Corp grew its holdings in Kadant by 1.5% during the first quarter. State Street Corp now owns 230,999 shares of the industrial products company’s stock valued at $13,710,000 after purchasing an additional 3,492 shares during the period. Hedge funds and other institutional investors own 90.99% of the company’s stock.
KAI has been the subject of several recent research reports. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price target for the company in a report on Thursday, November 2nd. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Kadant currently has a consensus rating of “Buy” and a consensus target price of $104.67.
Kadant (NYSE:KAI) last released its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.35. The firm had revenue of $152.79 million during the quarter, compared to analyst estimates of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. equities analysts anticipate that Kadant Inc will post 4.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is 24.85%.
In other news, CEO Jonathan W. Painter sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $103.82, for a total value of $2,076,400.00. Following the completion of the transaction, the chief executive officer now owns 76,082 shares of the company’s stock, valued at $7,898,833.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sandra L. Lambert sold 6,437 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total value of $699,444.42. Following the completion of the transaction, the vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $2,275,557.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,687 shares of company stock valued at $2,887,844. Corporate insiders own 5.59% of the company’s stock.
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Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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