Curi RMB Capital LLC Increases Position in Kadant Inc. (NYSE:KAI)

Curi RMB Capital LLC lifted its position in shares of Kadant Inc. (NYSE:KAI) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 77,552 shares of the industrial products company’s stock after purchasing an additional 1,500 shares during the period. Curi RMB Capital LLC’s holdings in Kadant were worth $26,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KAI. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Kadant by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock valued at $396,438,000 after acquiring an additional 15,512 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kadant by 46.3% during the first quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock worth $317,482,000 after purchasing an additional 306,352 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kadant by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock worth $92,355,000 after buying an additional 5,700 shares during the last quarter. Capital World Investors acquired a new position in shares of Kadant in the 1st quarter valued at $92,993,000. Finally, Raymond James & Associates grew its position in shares of Kadant by 6.5% in the 2nd quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock valued at $24,712,000 after buying an additional 5,167 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KAI shares. Barrington Research restated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson lifted their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Kadant Trading Down 1.1 %

Shares of Kadant stock opened at $392.89 on Thursday. The company’s fifty day moving average is $334.70 and its two-hundred day moving average is $311.61. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $422.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The company has a market capitalization of $4.61 billion, a P/E ratio of 40.21 and a beta of 1.21.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. During the same period in the prior year, the business earned $2.69 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Thursday, October 10th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.33%. Kadant’s dividend payout ratio (DPR) is 13.10%.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’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 transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

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.