Linden Thomas Advisory Services LLC Buys 321 Shares of Kadant Inc. (NYSE:KAI)

Linden Thomas Advisory Services LLC increased its stake in shares of Kadant Inc. (NYSE:KAI) by 26.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,532 shares of the industrial products company’s stock after acquiring an additional 321 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Kadant were worth $429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headinvest LLC bought a new position in Kadant during the third quarter worth $25,000. Financial Management Professionals Inc. acquired a new stake in Kadant during the fourth quarter worth $54,000. SG Americas Securities LLC acquired a new stake in Kadant during the fourth quarter worth $165,000. Strs Ohio boosted its stake in Kadant by 200.0% during the fourth quarter. Strs Ohio now owns 600 shares of the industrial products company’s stock worth $168,000 after buying an additional 400 shares in the last quarter. Finally, Argent Trust Co acquired a new stake in Kadant during the third quarter worth $200,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

KAI has been the topic of a number of recent research reports. StockNews.com downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barrington Research reiterated an “outperform” rating and set a $300.00 price target on shares of Kadant in a research note on Wednesday, February 14th.

Insider Buying and Selling

In related news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the transaction, the director now owns 7,615 shares in the company, valued at approximately $2,514,853.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Kadant news, Director Thomas C. Leonard sold 217 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total transaction of $70,266.77. Following the completion of the sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the business’s 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 directly owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The disclosure for this sale can be found here. Insiders have sold a total of 8,798 shares of company stock worth $2,899,004 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Kadant Stock Down 2.2 %

Shares of NYSE:KAI opened at $279.58 on Friday. Kadant Inc. has a 52 week low of $183.19 and a 52 week high of $354.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05. The company’s fifty day moving average is $313.98 and its 200-day moving average is $280.62. The company has a market capitalization of $3.28 billion, a PE ratio of 28.24 and a beta of 1.27.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.10 by $0.31. The company had revenue of $238.68 million for the quarter, compared to the consensus estimate of $227.54 million. Kadant had a net margin of 12.12% and a return on equity of 16.20%. Equities research analysts predict that Kadant Inc. will post 9.96 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be given a dividend of $0.32 per share. This is an increase from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. This represents a $1.28 annualized dividend and a yield of 0.46%. Kadant’s dividend payout ratio is 12.93%.

Kadant Profile

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.