Townsquare Capital LLC Acquires 70 Shares of Kadant Inc. (NYSE:KAI)

Townsquare Capital LLC lifted its holdings in Kadant Inc. (NYSE:KAI) by 8.0% during the third quarter, HoldingsChannel reports. The firm owned 941 shares of the industrial products company’s stock after purchasing an additional 70 shares during the period. Townsquare Capital LLC’s holdings in Kadant were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in Kadant during the third quarter worth about $25,000. Icon Wealth Advisors LLC acquired a new stake in Kadant during the third quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in Kadant during the second quarter worth about $29,000. Park Place Capital Corp grew its position in Kadant by 68.6% during the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after buying an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Kadant during the third quarter worth about $74,000. 96.13% of the stock is currently owned by institutional investors.

Kadant Stock Down 1.5 %

NYSE KAI opened at $404.81 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $360.16 and its two-hundred day moving average is $324.97. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 41.71 and a beta of 1.25. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95.

Kadant (NYSE:KAI) last released its quarterly earnings data 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. The company had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.69 earnings per share. Equities analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

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

Insider Transactions at Kadant

In related news, Director Rebecca Martinez O’mara sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the completion of the transaction, the director now owns 1,293 shares in the company, valued at $507,618.87. The trade was a 18.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 32.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,052 shares of company stock valued at $1,091,455 in the last three months. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.