5,606 Shares in Kadant Inc. (NYSE:KAI) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in Kadant Inc. (NYSE:KAI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,606 shares of the industrial products company's stock, valued at approximately $1,571,000.

Several other large investors have also modified their holdings of KAI. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Kadant in the 3rd quarter valued at $110,849,000. Wasatch Advisors Inc. raised its holdings in shares of Kadant by 3.6% in the 1st quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company's stock valued at $312,399,000 after buying an additional 55,595 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Kadant by 521.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 60,104 shares of the industrial products company's stock valued at $10,960,000 after buying an additional 50,432 shares during the period. Raymond James & Associates raised its holdings in shares of Kadant by 137.9% in the 4th quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company's stock valued at $23,028,000 after buying an additional 47,618 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Kadant by 4.8% in the 2nd quarter. BlackRock Inc. now owns 912,175 shares of the industrial products company's stock valued at $202,594,000 after buying an additional 42,069 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KAI. StockNews.com downgraded Kadant from a "buy" rating to a "hold" rating in a report on Thursday, January 4th. Barrington Research reiterated an "outperform" rating and issued a $300.00 price objective on shares of Kadant in a report on Wednesday, February 14th.

Kadant Stock Down 0.7 %

NYSE KAI traded down $1.91 during trading hours on Friday, hitting $281.99. 106,891 shares of the company were exchanged, compared to its average volume of 70,393. The company has a 50 day moving average of $316.61 and a two-hundred day moving average of $279.76. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. Kadant Inc. has a 52-week low of $183.19 and a 52-week high of $354.02. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 28.48 and a beta of 1.27.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.31. Kadant had a return on equity of 16.20% and a net margin of 12.12%. The company had revenue of $238.68 million for the quarter, compared to the consensus estimate of $227.54 million. Equities research analysts anticipate that Kadant Inc. will post 9.98 earnings per share for the current year.

Kadant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Kadant's previous quarterly dividend of $0.29. Kadant's dividend payout ratio is presently 12.93%.

Insider Activity

In other news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the transaction, the senior vice president now owns 881 shares in the company, valued at approximately $288,087. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the transaction, the senior vice president now owns 881 shares in the company, valued at approximately $288,087. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas C. Leonard sold 217 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the transaction, the director now owns 11,080 shares in the company, valued at approximately $3,587,814.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,798 shares of company stock worth $2,899,004. 1.40% of the stock is currently owned by insiders.

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.