WINTON GROUP Ltd lowered its stake in shares of Kadant Inc. (NYSE:KAI) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,865 shares of the industrial products company’s stock after selling 2,284 shares during the quarter. WINTON GROUP Ltd owned about 0.07% of Kadant worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in KAI. Wasatch Advisors Inc. raised its stake in Kadant by 165.9% in the third quarter. Wasatch Advisors Inc. now owns 892,526 shares of the industrial products company’s stock valued at $96,259,000 after buying an additional 556,816 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Kadant by 43.2% in the fourth quarter. Handelsbanken Fonder AB now owns 770,867 shares of the industrial products company’s stock worth $62,795,000 after purchasing an additional 232,564 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Kadant by 12.3% in the third quarter. Macquarie Group Ltd. now owns 631,580 shares of the industrial products company’s stock worth $68,116,000 after purchasing an additional 69,325 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of Kadant in the third quarter worth about $6,080,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of Kadant by 18.9% in the third quarter. Loomis Sayles & Co. L P now owns 234,064 shares of the industrial products company’s stock worth $25,244,000 after purchasing an additional 37,236 shares during the last quarter. Institutional investors own 93.94% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Kadant from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. ValuEngine cut Kadant from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Barrington Research restated a “buy” rating and issued a $110.00 price objective on shares of Kadant in a research note on Tuesday, February 26th. Finally, Sidoti upgraded Kadant from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 11th.
Kadant stock traded down $0.86 during midday trading on Thursday, hitting $86.51. 70,523 shares of the company were exchanged, compared to its average volume of 61,454. The firm has a market cap of $968.91 million, a price-to-earnings ratio of 16.34 and a beta of 1.08. Kadant Inc. has a fifty-two week low of $76.44 and a fifty-two week high of $111.85. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.46.
Kadant (NYSE:KAI) last posted its earnings results on Thursday, February 14th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.35 by $0.31. The firm had revenue of $163.94 million for the quarter, compared to analyst estimates of $160.67 million. Kadant had a return on equity of 17.14% and a net margin of 9.53%. Kadant’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. Equities analysts expect that Kadant Inc. will post 5.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.06%. This is a positive change from Kadant’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, April 8th.
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Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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