Kadant Inc. (NYSE:KAI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in Kadant Inc. (NYSE:KAI) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 475,407 shares of the industrial products company’s stock after selling 9,186 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Kadant were worth $164,011,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in KAI. Creative Planning boosted its position 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 purchasing an additional 660 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Kadant by 139.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,337 shares of the industrial products company’s stock worth $3,494,000 after purchasing an additional 6,027 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Kadant by 9.7% during the 3rd 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. Trust Point Inc. boosted its position in shares of Kadant by 1.1% during the 3rd quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock worth $1,412,000 after purchasing an additional 45 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Kadant during the 3rd quarter worth $74,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kadant

In other Kadant 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 transaction, the director now directly owns 4,250 shares in the company, valued at approximately $1,692,392.50. This represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fredrik H. Westerhout sold 600 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the transaction, the vice president now owns 1,437 shares in the company, valued at approximately $570,848.25. This trade represents a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Kadant Price Performance

Kadant stock opened at $354.11 on Friday. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $363.64 and its 200 day simple moving average is $348.74. The firm has a market capitalization of $4.16 billion, a PE ratio of 36.24 and a beta of 1.29.

Kadant (NYSE:KAI) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 11.12% and a return on equity of 15.10%. On average, equities research analysts predict that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Kadant

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.