LaFleur & Godfrey LLC Has $1.15 Million Stock Position in Kadant Inc. (NYSE:KAI)

LaFleur & Godfrey LLC cut its holdings in shares of Kadant Inc. (NYSE:KAI) by 5.0% in the third quarter, Holdings Channel reports. The institutional investor owned 3,408 shares of the industrial products company’s stock after selling 180 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Kadant were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. acquired a new stake in Kadant in the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Kadant in the 2nd quarter valued at approximately $29,000. Park Place Capital Corp grew its holdings in shares of Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 83 shares in the last quarter. Covestor Ltd increased its position in shares of Kadant by 31,600.0% during the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 316 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Kadant during the first quarter worth $141,000. Institutional investors own 96.13% of the company’s stock.

Kadant Price Performance

Shares of KAI traded up $7.12 during trading hours on Wednesday, hitting $336.65. The stock had a trading volume of 9,068 shares, compared to its average volume of 82,473. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 34.81 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The company’s fifty day moving average is $318.20 and its two-hundred day moving average is $303.81. Kadant Inc. has a 52 week low of $214.21 and a 52 week high of $363.40.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.38. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. During the same period in the prior year, the firm earned $2.54 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Kadant Inc. will post 9.93 EPS for the current year.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.38%. Kadant’s dividend payout ratio (DPR) is 13.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KAI shares. DA Davidson raised 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 reiterated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Friday, September 20th.

Insiders Place Their Bets

In other news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares in the company, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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.