Kadant Inc. (NYSE:KAI) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust cut its stake in Kadant Inc. (NYSE:KAI) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502 shares of the industrial products company’s stock after selling 54 shares during the period. Parkside Financial Bank & Trust’s holdings in Kadant were worth $173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KAI. Wealth Enhancement Advisory Services LLC raised its holdings in Kadant by 16.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 793 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 110 shares in the last quarter. US Bancorp DE raised its holdings in Kadant by 6.4% in the third quarter. US Bancorp DE now owns 1,933 shares of the industrial products company’s stock valued at $653,000 after acquiring an additional 116 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in Kadant in the third quarter valued at $237,000. Asset Management One Co. Ltd. acquired a new stake in Kadant in the third quarter valued at $111,000. Finally, Atria Investments Inc increased its stake in Kadant by 4.7% during the third quarter. Atria Investments Inc now owns 5,564 shares of the industrial products company’s stock valued at $1,881,000 after purchasing an additional 252 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $410.00 target price on shares of Kadant in a research note on Friday, February 14th.

Kadant Stock Up 0.3 %

KAI stock opened at $374.30 on Friday. 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 Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The firm has a fifty day moving average price of $365.97 and a two-hundred day moving average price of $354.27. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 39.48 and a beta of 1.29.

Kadant (NYSE:KAI) last released its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Research analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

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.