Kadant Inc. (KAI) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in Kadant Inc. (NYSE:KAI) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 486,647 shares of the industrial products company’s stock after selling 41,648 shares during the period. Brown Advisory Inc.’s holdings in Kadant were worth $48,860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KAI. Royce & Associates LP grew its position in shares of Kadant by 43.5% during the 4th quarter. Royce & Associates LP now owns 384,519 shares of the industrial products company’s stock worth $38,606,000 after buying an additional 116,547 shares during the period. Cortina Asset Management LLC grew its position in shares of Kadant by 107.8% during the 3rd quarter. Cortina Asset Management LLC now owns 182,124 shares of the industrial products company’s stock worth $17,948,000 after buying an additional 94,500 shares during the period. Pier Capital LLC acquired a new stake in shares of Kadant during the 3rd quarter worth approximately $6,105,000. Macquarie Group Ltd. grew its position in shares of Kadant by 12.7% during the 3rd quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock worth $49,960,000 after buying an additional 57,222 shares during the period. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of Kadant during the 3rd quarter worth approximately $5,211,000. Institutional investors own 91.03% of the company’s stock.

Several brokerages have recently commented on KAI. Zacks Investment Research upgraded shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price target for the company in a research report on Thursday, November 2nd. ValuEngine cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $104.67.

Shares of Kadant Inc. (NYSE:KAI) opened at $98.50 on Friday. Kadant Inc. has a 1 year low of $56.15 and a 1 year high of $114.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. The company has a market cap of $1,063.31, a P/E ratio of 35.69 and a beta of 1.35.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Kadant had a net margin of 6.04% and a return on equity of 16.18%. The company had revenue of $149.14 million during the quarter, compared to analysts’ expectations of $144.50 million. research analysts expect that Kadant Inc. will post 5.05 earnings per share for the current year.

In related news, CFO Michael J. Mckenney sold 3,600 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $99.14, for a total transaction of $356,904.00. Following the completion of the transaction, the chief financial officer now owns 19,160 shares in the company, valued at $1,899,522.40. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $100.01, for a total transaction of $400,040.00. Following 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. In the last 90 days, insiders have sold 26,819 shares of company stock valued at $2,674,705. Corporate insiders own 5.59% of the company’s stock.

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Kadant 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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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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