Epoch Investment Partners Inc. reduced its position in shares of Kadant Inc. (NYSE:KAI) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,743 shares of the industrial products company’s stock after selling 10,493 shares during the period. Epoch Investment Partners Inc.’s holdings in Kadant were worth $24,454,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KAI. Dupont Capital Management Corp acquired a new stake in Kadant during the second quarter worth about $953,000. Alps Advisors Inc. acquired a new stake in shares of Kadant during the second quarter valued at about $524,000. Wells Fargo & Company MN increased its position in shares of Kadant by 6.4% during the second quarter. Wells Fargo & Company MN now owns 481,564 shares of the industrial products company’s stock valued at $46,303,000 after acquiring an additional 28,784 shares during the last quarter. KBC Group NV acquired a new stake in shares of Kadant during the second quarter valued at about $260,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Kadant by 11.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 6,327 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 91.39% of the company’s stock.

Shares of KAI opened at $82.56 on Friday. Kadant Inc. has a 1-year low of $81.87 and a 1-year high of $111.85. The stock has a market cap of $959.89 million, a price-to-earnings ratio of 17.97 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.54.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. Kadant had a net margin of 6.91% and a return on equity of 15.90%. The business had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $164.72 million. During the same period last year, the business earned $1.49 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Kadant Inc. will post 5.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 9th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, January 8th. Kadant’s dividend payout ratio is presently 19.60%.

A number of equities research analysts have weighed in on the stock. Barrington Research reiterated a “buy” rating and set a $112.00 price target on shares of Kadant in a research report on Monday, September 17th. ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Finally, Zacks Investment Research cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st.

In related news, Director John M. Albertine sold 4,500 shares of Kadant stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $103.15, for a total value of $464,175.00. Following the completion of the transaction, the director now owns 10,740 shares in the company, valued at $1,107,831. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas C. Leonard sold 1,000 shares of Kadant stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the director now owns 22,100 shares of the company’s stock, valued at approximately $2,431,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,250 shares of company stock valued at $648,920. Company insiders own 5.40% of the company’s stock.

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About Kadant

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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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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