Asset Management One Co. Ltd. Makes New Investment in Kadant Inc. (NYSE:KAI)

Asset Management One Co. Ltd. bought a new position in Kadant Inc. (NYSE:KAI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 329 shares of the industrial products company’s stock, valued at approximately $111,000.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Kadant in the second quarter worth about $29,000. Park Place Capital Corp lifted its holdings in shares of Kadant by 68.6% in the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Kadant during the 3rd quarter valued at approximately $74,000. Benjamin F. Edwards & Company Inc. grew its stake in Kadant by 226.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after buying an additional 190 shares during the last quarter. Finally, Covestor Ltd increased its position in Kadant by 31,600.0% in the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after buying an additional 316 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the sale, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Kadant Stock Up 1.7 %

KAI opened at $406.46 on Tuesday. The stock’s 50 day moving average price is $331.12 and its 200 day moving average price is $310.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock has a market cap of $4.77 billion, a P/E ratio of 41.60 and a beta of 1.21. Kadant Inc. has a 12 month low of $247.85 and a 12 month high of $422.54.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. The company had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $2.69 earnings per share. As a group, research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, October 10th. Kadant’s dividend payout ratio is currently 13.10%.

Analysts Set New Price Targets

KAI has been the subject of several analyst reports. DA Davidson boosted their price target on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Wednesday, October 30th.

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.