Trust Point Inc. Increases Stock Position in Kadant Inc. (NYSE:KAI)

Trust Point Inc. boosted its stake in Kadant Inc. (NYSE:KAI) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,178 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. Trust Point Inc.’s holdings in Kadant were worth $1,412,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Kadant during the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in shares of Kadant during the second quarter worth about $29,000. Park Place Capital Corp grew its position in shares of Kadant by 68.6% during the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 83 shares during the last quarter. Covestor Ltd grew 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 worth $104,000 after acquiring an additional 316 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Kadant during the first quarter worth about $141,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KAI shares. DA Davidson increased their target price on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a research report on Friday, September 20th.

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the sale, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Kadant Stock Down 0.6 %

KAI traded down $2.08 during midday trading on Friday, hitting $332.60. 5,156 shares of the company’s stock traded hands, compared to its average volume of 82,002. The company has a market cap of $3.91 billion, a PE ratio of 34.86 and a beta of 1.21. The stock’s fifty day simple moving average is $319.66 and its 200-day simple moving average is $304.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant Inc. has a one year low of $214.21 and a one year high of $363.40.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million for the quarter, compared to the consensus estimate of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 earnings per share. As a group, equities analysts anticipate that Kadant Inc. will post 9.93 earnings per share for the current fiscal year.

Kadant Dividend Announcement

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

Kadant Profile

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.