Kadant Inc. (NYSE:KAI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Kadant Inc. (NYSE:KAI) by 93.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,081 shares of the industrial products company’s stock after selling 342,565 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.19% of Kadant worth $6,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KAI. Bank of New York Mellon Corp increased its stake in shares of Kadant by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 58,089 shares of the industrial products company’s stock worth $11,281,000 after acquiring an additional 342 shares during the period. MetLife Investment Management LLC increased its stake in shares of Kadant by 55.3% in the first quarter. MetLife Investment Management LLC now owns 6,200 shares of the industrial products company’s stock worth $1,204,000 after acquiring an additional 2,209 shares during the period. Raymond James Trust N.A. increased its stake in shares of Kadant by 11.3% in the first quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 175 shares during the period. Sei Investments Co. increased its stake in shares of Kadant by 4.6% in the first quarter. Sei Investments Co. now owns 51,084 shares of the industrial products company’s stock worth $9,920,000 after acquiring an additional 2,247 shares during the period. Finally, Aviva PLC acquired a new stake in shares of Kadant in the first quarter worth $1,483,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Down 0.6 %

KAI stock opened at $283.50 on Friday. The firm has a market cap of $3.33 billion, a PE ratio of 28.64 and a beta of 1.27. 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 firm’s fifty day moving average is $317.14 and its 200 day moving average is $278.61. Kadant Inc. has a one year low of $183.19 and a one year high of $354.02.

Kadant (NYSE:KAI) last released its quarterly 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 analyst estimates of $227.54 million. Kadant had a net margin of 12.12% and a return on equity of 16.20%. On average, research analysts forecast that Kadant Inc. will post 9.98 EPS for the current year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.45%. This is an increase from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 9th. Kadant’s dividend payout ratio (DPR) is presently 12.93%.

Analyst Ratings Changes

A number of research firms have recently weighed in on KAI. Barrington Research reiterated an “outperform” rating and issued a $300.00 price objective on shares of Kadant in a research note on Wednesday, February 14th. StockNews.com lowered shares of Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.

Insider Buying and Selling at Kadant

In other Kadant news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total transaction of $228,900.00. Following the transaction, the senior vice president now directly owns 881 shares of the company’s stock, valued at $288,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kadant news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total transaction of $228,900.00. Following the transaction, the senior vice president now directly owns 881 shares of the company’s stock, valued at $288,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction on 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 directly owns 7,615 shares in the company, 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 valued at $2,899,004 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

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.