Kadant Inc. (NYSE:KAI) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its holdings in Kadant Inc. (NYSE:KAIFree Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,703 shares of the industrial products company’s stock after selling 3,549 shares during the quarter. Brown Advisory Inc. owned 1.29% of Kadant worth $42,244,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Kadant by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 66,615 shares of the industrial products company’s stock worth $15,025,000 after acquiring an additional 852 shares during the period. Principal Financial Group Inc. raised its position in shares of Kadant by 24.4% during the 3rd quarter. Principal Financial Group Inc. now owns 3,713 shares of the industrial products company’s stock worth $837,000 after purchasing an additional 728 shares during the last quarter. West Coast Financial LLC lifted its stake in Kadant by 0.3% in the 3rd quarter. West Coast Financial LLC now owns 30,657 shares of the industrial products company’s stock valued at $6,915,000 after buying an additional 86 shares in the last quarter. Victory Capital Management Inc. increased its stake in Kadant by 27.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,357 shares of the industrial products company’s stock worth $757,000 after buying an additional 717 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Kadant by 1.6% during the third quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 53 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Trading Down 0.0 %

Shares of NYSE KAI traded down $0.11 during midday trading on Friday, reaching $279.02. 109,264 shares of the stock were exchanged, compared to its average volume of 93,929. Kadant Inc. has a twelve month low of $186.99 and a twelve month high of $354.02. The stock has a market capitalization of $3.28 billion, a P/E ratio of 29.06 and a beta of 1.30. The company has a 50 day simple moving average of $298.69 and a 200 day simple moving average of $287.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05.

Kadant (NYSE:KAIGet Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The company had revenue of $248.98 million for the quarter, compared to analysts’ expectations of $245.56 million. During the same quarter in the prior year, the company posted $2.40 earnings per share. Kadant’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Kadant Inc. will post 10.01 earnings per share for the current year.

Kadant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio (DPR) is 13.33%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KAI. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Monday, April 29th. William Blair restated an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th.

Read Our Latest Research Report on KAI

Insider Buying and Selling at Kadant

In other news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total value of $2,311,750.00. Following the sale, the director now owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas C. Leonard sold 217 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total transaction of $70,266.77. Following the transaction, the director now owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The disclosure for this sale can be found here. Insiders sold a total of 8,798 shares of company stock valued at $2,899,004 in the last three months. 1.40% of the stock is owned by corporate insiders.

Kadant Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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