Kadant Inc. (NYSE:KAI) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 80.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,409 shares of the industrial products company's stock after selling 10,014 shares during the quarter. Jane Street Group LLC's holdings in Kadant were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant in the 4th quarter valued at about $193,595,000. Vanguard Group Inc. increased its holdings in Kadant by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after buying an additional 243,267 shares during the period. Norges Bank bought a new position in Kadant in the fourth quarter worth approximately $46,529,000. Raymond James Financial Inc. purchased a new stake in Kadant during the fourth quarter worth $39,400,000. Finally, Conestoga Capital Advisors LLC bought a new stake in Kadant during the 4th quarter valued at $38,560,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Stock Up 6.1%

NYSE KAI traded up $18.60 on Tuesday, hitting $323.68. The stock had a trading volume of 139,630 shares, compared to its average volume of 112,478. The business's fifty day moving average price is $315.57 and its 200 day moving average price is $353.45. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 34.14 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant Inc. has a 52-week low of $266.23 and a 52-week high of $429.95.

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

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

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Thursday, July 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Thursday, July 10th. Kadant's dividend payout ratio (DPR) is presently 14.44%.

Analysts Set New Price Targets

Several research firms have recently commented on KAI. DA Davidson reduced their price target on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Kadant from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barrington Research reissued an "outperform" rating and set a $380.00 price target on shares of Kadant in a research report on Thursday, May 1st.

Kadant Company 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.