Sanctuary Advisors LLC Has $721,000 Stock Holdings in Kadant Inc. (NYSE:KAI)

Sanctuary Advisors LLC reduced its stake in shares of Kadant Inc. (NYSE:KAI) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,133 shares of the industrial products company’s stock after selling 45 shares during the period. Sanctuary Advisors LLC’s holdings in Kadant were worth $721,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of KAI. Xponance Inc. raised its holdings in shares of Kadant by 5.2% during the second quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 37 shares during the period. Trust Point Inc. raised its stake in shares of Kadant by 1.1% in the 3rd quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after purchasing an additional 45 shares during the period. Wealth Alliance lifted its holdings in shares of Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 47 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after buying an additional 48 shares during the period. Finally, Associated Banc Corp grew its holdings in shares of Kadant by 7.5% during the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock worth $281,000 after buying an additional 58 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

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

Kadant Price Performance

Shares of NYSE KAI opened at $348.93 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The business has a 50-day moving average of $371.86 and a 200-day moving average of $333.69. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 35.71 and a beta of 1.25. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week 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, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.69 EPS. As a group, sell-side analysts predict that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders 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 yield of 0.37%. The ex-dividend date is Thursday, January 9th. Kadant’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling at Kadant

In related 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 transaction, the vice president now directly owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas C. Leonard sold 152 shares of the firm’s stock in a transaction 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 directly owns 4,250 shares of the company’s stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,052 shares of company stock worth $1,091,455 over the last quarter. 1.40% of the stock is currently owned by insiders.

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.