Hancock Whitney Corp Sells 52 Shares of Kadant Inc. (NYSE:KAI)

Hancock Whitney Corp cut its holdings in Kadant Inc. (NYSE:KAI) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,003 shares of the industrial products company’s stock after selling 52 shares during the period. Hancock Whitney Corp’s holdings in Kadant were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. O Shaughnessy Asset Management LLC bought a new stake in shares of Kadant during the first quarter valued at about $221,000. Public Employees Retirement System of Ohio increased its position in shares of Kadant by 3,838.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,742 shares of the industrial products company’s stock worth $1,228,000 after purchasing an additional 3,647 shares during the last quarter. Janus Henderson Group PLC raised its stake in Kadant by 15.1% in the first quarter. Janus Henderson Group PLC now owns 22,324 shares of the industrial products company’s stock valued at $7,321,000 after purchasing an additional 2,923 shares in the last quarter. Comerica Bank lifted its position in Kadant by 38.6% during the first quarter. Comerica Bank now owns 3,935 shares of the industrial products company’s stock valued at $1,291,000 after purchasing an additional 1,096 shares during the last quarter. Finally, EULAV Asset Management grew its stake in Kadant by 38.5% in the 1st quarter. EULAV Asset Management now owns 18,700 shares of the industrial products company’s stock worth $6,135,000 after buying an additional 5,200 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kadant

In related news, VP Fredrik H. Westerhout sold 600 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $397.25, for a total transaction of $238,350.00. Following the transaction, the vice president now owns 1,437 shares in the company, valued at $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the sale, the director now owns 4,250 shares of the company’s stock, valued at $1,692,392.50. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,052 shares of company stock valued at $1,091,455 in the last 90 days. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

KAI has been the subject of a number of research analyst reports. DA Davidson lifted their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price target on shares of Kadant in a research note on Wednesday, October 30th.

Kadant Stock Performance

NYSE:KAI opened at $403.46 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The firm has a market cap of $4.74 billion, a PE ratio of 41.30 and a beta of 1.21. The business has a 50 day moving average price of $351.11 and a 200-day moving average price of $319.85.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The business had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. During the same quarter in the prior year, the company posted $2.69 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a yield of 0.32%. Kadant’s dividend payout ratio is presently 13.10%.

About Kadant

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.