Kadant Inc. (NYSE:KAI) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its position in Kadant Inc. (NYSE:KAI) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,673 shares of the industrial products company’s stock after selling 1,098 shares during the quarter. Stifel Financial Corp’s holdings in Kadant were worth $13,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Kadant during the 3rd quarter valued at about $25,000. Icon Wealth Advisors LLC purchased a new stake in Kadant during the 3rd quarter worth approximately $28,000. Park Place Capital Corp lifted its holdings in Kadant by 68.6% during the 3rd 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. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Kadant in the third quarter worth $74,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Kadant by 226.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rebecca Martinez O’mara sold 300 shares of Kadant stock in a transaction 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 transaction, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. The trade was a 18.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction 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 sale, the vice president now owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. This represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,052 shares of company stock valued at $1,091,455. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Kadant Trading Down 2.8 %

KAI opened at $396.31 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The company has a market cap of $4.65 billion, a P/E ratio of 40.56 and a beta of 1.25. The business’s 50-day simple moving average is $365.72 and its 200-day simple moving average is $328.85.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 earnings per share. As a group, equities research analysts expect that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 annualized dividend and a yield of 0.32%. Kadant’s dividend payout ratio is presently 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.