Kadant Inc. (NYSE:KAI) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of Kadant Inc. (NYSE:KAI) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,380 shares of the industrial products company’s stock after acquiring an additional 211 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kadant were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Kadant by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock worth $396,438,000 after buying an additional 15,512 shares during the last quarter. Vanguard Group Inc. increased its stake 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 acquiring an additional 306,352 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kadant by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock valued at $92,355,000 after purchasing an additional 5,700 shares during the period. Capital World Investors purchased a new stake in Kadant in the first quarter valued at $92,993,000. Finally, Raymond James & Associates lifted its stake 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 purchasing an additional 5,167 shares during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Down 2.0 %

Shares of NYSE KAI opened at $328.09 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.85 billion, a PE ratio of 33.75 and a beta of 1.21. Kadant Inc. has a twelve month low of $214.21 and a twelve month high of $363.40. The stock has a fifty day simple moving average of $320.32 and a 200-day simple moving average of $304.18.

Kadant (NYSE:KAI) last released 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. The company had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. Kadant’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. On average, equities analysts forecast that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.39%. Kadant’s dividend payout ratio is presently 13.17%.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value of $674,800.00. Following the sale, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.