Barclays PLC Has $6.69 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Barclays PLC lowered its position in shares of Kadant Inc. (NYSE:KAI) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,794 shares of the industrial products company’s stock after selling 1,088 shares during the quarter. Barclays PLC owned 0.17% of Kadant worth $6,690,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KAI. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Kadant by 1.2% in the second 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 purchasing an additional 15,512 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 in the last quarter. State Street Corp boosted its stake in shares of Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock worth $94,909,000 after buying an additional 6,412 shares during the last quarter. FMR LLC boosted its stake in shares of Kadant by 1.1% during the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after buying an additional 1,629 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after acquiring an additional 2,068 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

Insider Activity at Kadant

In other Kadant 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 transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at $1,433,950. This trade represents a 32.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fredrik H. Westerhout sold 600 shares of Kadant stock in a transaction on Monday, November 18th. The stock was sold at an average price of $397.25, for a total value of $238,350.00. Following the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at $570,848.25. This represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,052 shares of company stock worth $1,091,455. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Kadant Price Performance

Shares of NYSE KAI opened at $352.81 on Thursday. 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 business’s 50 day moving average price is $370.85 and its two-hundred day moving average price is $332.32. The company has a market cap of $4.14 billion, a PE ratio of 36.11 and a beta of 1.25. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95.

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

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, January 9th. Kadant’s payout ratio is 13.10%.

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.