American Century Companies Inc. purchased a new stake in shares of Kadant Inc (NYSE:KAI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 51,865 shares of the industrial products company’s stock, valued at approximately $5,111,000. American Century Companies Inc. owned approximately 0.47% of Kadant at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KAI. Teachers Advisors LLC increased its stake in Kadant by 476.6% during the 2nd quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock valued at $10,703,000 after purchasing an additional 117,641 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Kadant by 62.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 154,196 shares of the industrial products company’s stock valued at $11,596,000 after purchasing an additional 59,097 shares in the last quarter. Pictet Asset Management Ltd. bought a new stake in Kadant during the 3rd quarter valued at $5,211,000. EAM Investors LLC bought a new stake in Kadant during the 2nd quarter valued at $3,549,000. Finally, Renaissance Technologies LLC boosted its holdings in Kadant by 125.7% during the 1st quarter. Renaissance Technologies LLC now owns 78,100 shares of the industrial products company’s stock worth $4,635,000 after acquiring an additional 43,500 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Kadant Inc (NYSE KAI) traded down $1.35 on Friday, reaching $102.15. 31,500 shares of the company’s stock were exchanged, compared to its average volume of 59,542. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,124.40, a P/E ratio of 25.41 and a beta of 1.43. Kadant Inc has a 1 year low of $56.15 and a 1 year high of $114.00.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. The firm had revenue of $152.79 million for the quarter, compared to the consensus estimate of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. sell-side analysts forecast that Kadant Inc will post 4.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is currently 24.85%.

In related news, CEO Jonathan W. Painter sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $103.82, for a total value of $2,076,400.00. Following the transaction, the chief executive officer now directly owns 76,082 shares of the company’s stock, valued at approximately $7,898,833.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William P. Tully sold 1,250 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $89.60, for a total transaction of $112,000.00. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at $470,400. The disclosure for this sale can be found here. Insiders sold a total of 27,687 shares of company stock worth $2,887,844 over the last three months. 5.59% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/american-century-companies-inc-invests-5-11-million-in-kadant-inc-kai-stock/1723851.html.

A number of equities analysts have issued reports on the stock. Sidoti downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective on the stock. in a report on Tuesday, October 3rd. ValuEngine downgraded shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $104.67.

About Kadant

Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.

Want to see what other hedge funds are holding KAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kadant Inc (NYSE:KAI).

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.