American Century Companies Inc. Invests $5.11 Million in Kadant Inc (KAI) Stock
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.
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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.
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.
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