Kadant Inc. (NYSE:KAI) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its position in Kadant Inc. (NYSE:KAI) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,987 shares of the industrial products company’s stock after purchasing an additional 355 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Kadant were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KAI. Erste Asset Management GmbH acquired a new stake in Kadant in the third quarter valued at about $11,345,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Kadant during the 3rd quarter valued at approximately $11,206,000. DF Dent & Co. Inc. lifted its position in shares of Kadant by 64.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company’s stock valued at $28,109,000 after acquiring an additional 32,491 shares during the period. Champlain Investment Partners LLC lifted its position in shares of Kadant by 34.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock valued at $41,447,000 after acquiring an additional 31,675 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Kadant by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company’s stock valued at $21,876,000 after acquiring an additional 24,358 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research lifted their price target on shares of Kadant from $360.00 to $410.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th.

Kadant Trading Down 0.2 %

Shares of Kadant stock opened at $377.24 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95. The company has a market capitalization of $4.43 billion, a P/E ratio of 38.61 and a beta of 1.28. The business has a 50 day moving average price of $374.57 and a 200 day moving average price of $345.71.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. During the same period in the previous year, the firm posted $2.69 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, January 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.28 annualized dividend and a dividend yield of 0.34%. Kadant’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling

In other Kadant news, Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the completion of the sale, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fredrik H. Westerhout sold 600 shares of Kadant stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,052 shares of company stock worth $416,655 in the last ninety days. Insiders own 1.40% of the company’s stock.

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.