83 Shares in Kadant Inc. (NYSE:KAI) Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC acquired a new stake in shares of Kadant Inc. (NYSE:KAI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83 shares of the industrial products company’s stock, valued at approximately $28,000.

A number of other institutional investors also recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in shares of Kadant by 223.1% during the third quarter. Citigroup Inc. now owns 14,893 shares of the industrial products company’s stock valued at $5,034,000 after purchasing an additional 10,283 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Kadant by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,241 shares of the industrial products company’s stock valued at $40,979,000 after acquiring an additional 2,141 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Kadant during the third quarter valued at about $206,000. Intech Investment Management LLC acquired a new position in shares of Kadant during the third quarter worth $806,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of Kadant by 0.7% during the 3rd quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 48 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kadant

In other news, VP Fredrik H. Westerhout sold 600 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the sale, the vice president now directly owns 1,437 shares in the company, valued at $570,848.25. This trade represents a 29.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction 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 sale, the director now directly owns 4,250 shares in the company, valued at $1,433,950. This represents a 32.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,052 shares of company stock valued at $1,091,455. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Kadant Price Performance

Shares of NYSE KAI opened at $419.27 on Tuesday. 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 has a market cap of $4.92 billion, a P/E ratio of 42.91 and a beta of 1.21. The business’s 50 day moving average price is $349.32 and its 200 day moving average price is $318.89.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.69 earnings per share. On average, sell-side analysts expect that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.31%. The ex-dividend date 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.