Hillsdale Investment Management Inc. grew its holdings in shares of Kadant Inc (NYSE:KAI) by 489.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,790 shares of the industrial products company’s stock after acquiring an additional 9,790 shares during the period. Hillsdale Investment Management Inc. owned about 0.11% of Kadant worth $1,162,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Smith Asset Management Group LP acquired a new stake in shares of Kadant during the third quarter valued at about $3,611,000. EAM Investors LLC grew its stake in Kadant by 29.1% in the third quarter. EAM Investors LLC now owns 60,938 shares of the industrial products company’s stock worth $6,005,000 after purchasing an additional 13,743 shares in the last quarter. Cortina Asset Management LLC grew its stake in Kadant by 107.8% in the third quarter. Cortina Asset Management LLC now owns 182,124 shares of the industrial products company’s stock worth $17,948,000 after purchasing an additional 94,500 shares in the last quarter. Sterling Capital Management LLC acquired a new position in Kadant in the second quarter worth about $580,000. Finally, Teachers Advisors LLC grew its stake in Kadant by 476.6% in the second quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock worth $10,703,000 after purchasing an additional 117,641 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.
Kadant Inc (KAI) traded down $0.35 during trading hours on Thursday, reaching $103.05. The company had a trading volume of 35,700 shares, compared to its average volume of 59,293. The firm has a market capitalization of $1,138.16, a P/E ratio of 25.72 and a beta of 1.43. Kadant Inc has a fifty-two week low of $56.15 and a fifty-two week high of $114.00. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. The business had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. analysts expect that Kadant Inc will post 4.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. Kadant’s payout ratio is currently 24.85%.
In other Kadant news, VP Sandra L. Lambert sold 6,437 shares of Kadant stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total value of $699,444.42. Following the completion of the transaction, the vice president now directly owns 20,942 shares in the company, valued at $2,275,557.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.60, for a total value of $112,000.00. Following the completion of the transaction, the director now owns 5,250 shares of the company’s stock, valued at $470,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,687 shares of company stock valued at $2,887,844. 5.59% of the stock is currently owned by insiders.
KAI has been the subject of a number of research reports. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Sidoti downgraded Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $104.67.
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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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