Janus Henderson Group PLC Has $44.04 Million Holdings in Kadant Inc. (NYSE:KAI)

Janus Henderson Group PLC raised its holdings in shares of Kadant Inc. (NYSE:KAI) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,291 shares of the industrial products company’s stock after purchasing an additional 2,068 shares during the quarter. Janus Henderson Group PLC owned approximately 1.11% of Kadant worth $44,036,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Kadant during the 3rd quarter valued at $25,000. Icon Wealth Advisors LLC acquired a new stake in Kadant during the 3rd quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Kadant during the 2nd quarter valued at $29,000. Park Place Capital Corp lifted its holdings in Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 83 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Kadant during the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Insider Buying and Selling

In other news, VP Fredrik H. Westerhout sold 600 shares of the business’s stock in a transaction that occurred on 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 owns 1,437 shares in the company, valued at $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the business’s stock in a transaction that occurred on 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 owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,052 shares of company stock valued at $1,091,455 over the last ninety days. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $360.00 price target on shares of Kadant in a report on Wednesday, October 30th.

Kadant Stock Performance

NYSE:KAI opened at $404.81 on Friday. The stock has a market cap of $4.75 billion, a P/E ratio of 41.43 and a beta of 1.25. 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 stock’s 50-day moving average is $360.16 and its 200-day moving average is $324.97. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.69 earnings per share. Equities research analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant’s dividend payout ratio is currently 13.10%.

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.