92 Shares in Kadant Inc. (NYSE:KAI) Purchased by Westside Investment Management Inc.

Westside Investment Management Inc. bought a new stake in shares of Kadant Inc. (NYSE:KAI) in the third quarter, Holdings Channel.com reports. The firm bought 92 shares of the industrial products company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 valued at $219,000 after buying an additional 37 shares during the last quarter. Trust Point Inc. increased its position in 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 acquiring an additional 45 shares during the period. Wealth Alliance raised its stake in Kadant by 7.0% during the 2nd quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 47 shares in the last quarter. King Luther Capital Management Corp boosted its position in 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 worth $2,419,000 after acquiring an additional 48 shares during the period. Finally, Associated Banc Corp grew its stake in shares of Kadant by 7.5% in the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 58 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kadant Price Performance

NYSE KAI opened at $382.08 on Friday. Kadant Inc. has a 12 month low of $249.51 and a 12 month high of $429.95. The firm has a market capitalization of $4.49 billion, a PE ratio of 39.11 and a beta of 1.25. The company’s 50 day simple moving average is $367.99 and its 200 day simple moving average is $329.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping 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 company had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. During the same quarter in the previous year, the business earned $2.69 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be paid a $0.32 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.34%. Kadant’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling

In other news, VP Fredrik H. Westerhout sold 600 shares of the business’s 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 directly owns 1,437 shares of the company’s stock, valued at $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas C. Leonard sold 152 shares of the company’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 approximately $1,692,392.50. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,052 shares of company stock worth $1,091,455 in the last ninety days. 1.40% of the stock is currently owned by corporate 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.