Kadant Inc. (NYSE:KAI) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC lowered its stake in Kadant Inc. (NYSE:KAI) by 4.8% during the third quarter, HoldingsChannel reports. The firm owned 2,993 shares of the industrial products company’s stock after selling 150 shares during the quarter. Inspire Advisors LLC’s holdings in Kadant were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Trust Point Inc. grew its position in Kadant by 1.1% in the 3rd quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 45 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Kadant by 9.7% during the third quarter. Bleakley Financial Group LLC now owns 2,380 shares of the industrial products company’s stock worth $804,000 after purchasing an additional 211 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Kadant by 139.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,337 shares of the industrial products company’s stock valued at $3,494,000 after purchasing an additional 6,027 shares in the last quarter. Creative Planning raised its stake in shares of Kadant by 17.1% during the 3rd quarter. Creative Planning now owns 4,511 shares of the industrial products company’s stock worth $1,525,000 after buying an additional 660 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Kadant by 1.0% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 61,652 shares of the industrial products company’s stock valued at $20,838,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Price Performance

Shares of KAI traded down $4.94 on Friday, reaching $329.74. The stock had a trading volume of 7,080 shares, compared to its average volume of 82,008. Kadant Inc. has a twelve month low of $214.21 and a twelve month high of $363.40. The firm has a market capitalization of $3.87 billion, a PE ratio of 34.65 and a beta of 1.21. The firm has a 50-day moving average of $319.66 and a 200 day moving average of $304.24. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42.

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

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 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 0.39%. The ex-dividend date is Thursday, October 10th. Kadant’s payout ratio is currently 13.33%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.