Captrust Financial Advisors Has $289,000 Stake in Kadant Inc. (NYSE:KAI)

Captrust Financial Advisors trimmed its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 56.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 838 shares of the industrial products company's stock after selling 1,066 shares during the quarter. Captrust Financial Advisors' holdings in Kadant were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in KAI. Sheets Smith Wealth Management lifted its holdings in Kadant by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company's stock worth $772,000 after purchasing an additional 69 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in Kadant by 87.1% in the 4th quarter. Wesbanco Bank Inc. now owns 1,590 shares of the industrial products company's stock worth $549,000 after purchasing an additional 740 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Kadant by 21.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 1,987 shares of the industrial products company's stock worth $685,000 after purchasing an additional 355 shares during the last quarter. KBC Group NV lifted its holdings in Kadant by 54.6% in the 4th quarter. KBC Group NV now owns 504 shares of the industrial products company's stock worth $174,000 after purchasing an additional 178 shares during the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in Kadant in the 4th quarter worth approximately $38,560,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on KAI. DA Davidson reduced their target price on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Barrington Research restated an "outperform" rating and issued a $380.00 target price on shares of Kadant in a report on Thursday, May 1st.

Kadant Stock Down 2.8%

Shares of KAI stock opened at $307.67 on Thursday. Kadant Inc. has a 12 month low of $266.23 and a 12 month high of $429.95. The firm has a market cap of $3.62 billion, a PE ratio of 32.45 and a beta of 1.30. The stock has a 50 day moving average of $317.94 and a 200-day moving average of $355.20. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The company had revenue of $239.21 million during the quarter, compared to analyst estimates of $239.41 million. During the same period in the previous year, the company earned $2.38 earnings per share. The company's quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant declared that its Board of Directors has approved a share repurchase program on Thursday, May 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.44%. Kadant's dividend payout ratio (DPR) is presently 14.44%.

About Kadant

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.

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