Rhumbline Advisers Has $1.99 Million Position in Kadant (KAI)
Rhumbline Advisers trimmed its holdings in Kadant (NYSE:KAI) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,853 shares of the industrial products company’s stock after selling 2,661 shares during the period. Rhumbline Advisers owned approximately 0.18% of Kadant worth $1,993,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Eagle Asset Management Inc. grew its position in Kadant by 2.3% in the third quarter. Eagle Asset Management Inc. now owns 226,042 shares of the industrial products company’s stock worth $22,547,000 after acquiring an additional 5,164 shares during the period. Epoch Investment Partners Inc. grew its position in Kadant by 17.4% in the third quarter. Epoch Investment Partners Inc. now owns 180,967 shares of the industrial products company’s stock worth $17,834,000 after acquiring an additional 26,771 shares during the period. American Century Companies Inc. grew its position in Kadant by 78.3% in the fourth quarter. American Century Companies Inc. now owns 92,467 shares of the industrial products company’s stock worth $9,284,000 after acquiring an additional 40,602 shares during the period. Nationwide Fund Advisors grew its position in Kadant by 4.2% in the third quarter. Nationwide Fund Advisors now owns 87,955 shares of the industrial products company’s stock worth $8,668,000 after acquiring an additional 3,522 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in Kadant by 3.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 65,472 shares of the industrial products company’s stock worth $6,574,000 after purchasing an additional 2,123 shares in the last quarter. Institutional investors own 90.70% of the company’s stock.
KAI has been the topic of a number of research reports. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Barrington Research restated an “outperform” rating and set a $110.00 price target on shares of Kadant in a research note on Thursday, March 1st. Finally, ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $112.67.
Kadant (NYSE:KAI) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The company had revenue of $149.14 million for the quarter, compared to analysts’ expectations of $144.50 million. sell-side analysts predict that Kadant will post 5.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, April 12th will be paid a $0.22 dividend. This is a boost from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, April 11th. Kadant’s dividend payout ratio (DPR) is presently 30.43%.
In other news, COO Eric T. Langevin sold 7,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $99.62, for a total value of $697,340.00. Following the sale, the chief operating officer now directly owns 34,382 shares in the company, valued at $3,425,134.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eric T. Langevin sold 700 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $100.56, for a total value of $70,392.00. Following the completion of the sale, the chief operating officer now owns 28,850 shares in the company, valued at $2,901,156. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,554 shares of company stock worth $3,773,468. Insiders own 5.59% of the company’s stock.
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Kadant Company Profile
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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