Kadant Inc. (KAI) Stake Boosted by Royce & Associates LP

Royce & Associates LP grew its stake in shares of Kadant Inc. (NYSE:KAI) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,822 shares of the industrial products company’s stock after acquiring an additional 4,500 shares during the quarter. Royce & Associates LP owned about 4.38% of Kadant worth $52,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ramsey Quantitative Systems acquired a new position in shares of Kadant during the third quarter valued at about $121,000. PEAK6 Investments L.P. acquired a new position in shares of Kadant during the second quarter valued at about $207,000. Nisa Investment Advisors LLC acquired a new position in shares of Kadant during the second quarter valued at about $212,000. Milestone Group Inc. acquired a new position in shares of Kadant during the third quarter valued at about $216,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Kadant during the second quarter valued at about $236,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

NYSE KAI traded up $0.20 during trading hours on Friday, reaching $91.37. The stock had a trading volume of 262 shares, compared to its average volume of 30,152. The firm has a market cap of $1.02 billion, a P/E ratio of 20.35 and a beta of 1.29. Kadant Inc. has a 52-week low of $89.79 and a 52-week high of $111.85. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.54.

Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.15. Kadant had a return on equity of 15.90% and a net margin of 6.91%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.72 million. During the same quarter in the prior year, the firm posted $1.49 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts expect that Kadant Inc. will post 5.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Thursday, October 11th were given a $0.22 dividend. The ex-dividend date was Wednesday, October 10th. This represents a $0.88 annualized dividend and a yield of 0.96%. Kadant’s dividend payout ratio is presently 19.60%.

In other Kadant news, CFO Michael J. Mckenney sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $103.00, for a total value of $515,000.00. Following the sale, the chief financial officer now owns 11,624 shares in the company, valued at approximately $1,197,272. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William P. Tully sold 750 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $99.66, for a total value of $74,745.00. Following the completion of the sale, the director now owns 6,025 shares in the company, valued at approximately $600,451.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,250 shares of company stock worth $1,163,920. Insiders own 5.40% of the company’s stock.

KAI has been the topic of a number of recent research reports. ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. Finally, Barrington Research set a $112.00 target price on Kadant and gave the company a “buy” rating in a research report on Wednesday, October 31st.

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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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