Harbor Investment Advisory LLC Sells 103 Shares of Kadant Inc. (NYSE:KAI)

Harbor Investment Advisory LLC trimmed its holdings in Kadant Inc. (NYSE:KAI) by 38.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 162 shares of the industrial products company’s stock after selling 103 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Kadant were worth $56,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Kadant by 1.1% in the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after acquiring an additional 1,629 shares during the last quarter. Dudley & Shanley Inc. increased its stake in shares of Kadant by 196.7% in the third quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock worth $10,985,000 after buying an additional 21,545 shares during the period. Hsbc Holdings PLC increased its stake in shares of Kadant by 133.3% in the second quarter. Hsbc Holdings PLC now owns 3,066 shares of the industrial products company’s stock worth $902,000 after buying an additional 1,752 shares during the period. HighTower Advisors LLC increased its stake in shares of Kadant by 120.1% in the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock worth $546,000 after buying an additional 883 shares during the period. Finally, Synovus Financial Corp purchased a new position in shares of Kadant in the third quarter worth $585,000. 96.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Kadant Stock Down 0.5 %

Shares of Kadant stock opened at $374.97 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $375.17 and its two-hundred day simple moving average is $344.36. The company has a market cap of $4.40 billion, a P/E ratio of 38.38 and a beta of 1.28. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95.

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, beating analysts’ consensus estimates of $2.43 by $0.41. The business had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.69 EPS. Research analysts anticipate that Kadant Inc. will post 10.11 EPS for the current year.

Kadant Dividend Announcement

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

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the sale, the director now directly owns 4,250 shares of the company’s stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fredrik H. Westerhout sold 600 shares of the company’s stock in a transaction dated 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 in the company, valued at $570,848.25. This represents a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,052 shares of company stock valued at $416,655. 1.40% of the stock is currently owned by company insiders.

Kadant Company 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.