Kadant Inc. (NYSE:KAI) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,729 shares of the industrial products company's stock after selling 22,000 shares during the period. Handelsbanken Fonder AB owned 1.44% of Kadant worth $47,296,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in Kadant by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company's stock worth $752,000 after purchasing an additional 53 shares in the last quarter. West Coast Financial LLC raised its holdings in shares of Kadant by 0.3% during the 3rd quarter. West Coast Financial LLC now owns 30,657 shares of the industrial products company's stock worth $6,915,000 after acquiring an additional 86 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Kadant during the 3rd quarter worth approximately $25,000. Linden Thomas Advisory Services LLC raised its holdings in shares of Kadant by 14.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,211 shares of the industrial products company's stock worth $273,000 after acquiring an additional 156 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Kadant during the 4th quarter worth approximately $54,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Up 0.3 %

Shares of NYSE KAI traded up $0.77 during trading hours on Monday, hitting $282.76. 53,180 shares of the company traded hands, compared to its average volume of 93,293. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 28.56 and a beta of 1.28. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14. The company's 50 day moving average price is $316.06 and its 200 day moving average price is $280.16. Kadant Inc. has a 12 month low of $183.19 and a 12 month high of $354.02.

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

Kadant Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on KAI shares. StockNews.com cut Kadant from a "buy" rating to a "hold" rating in a report on Thursday, January 4th. Barrington Research reissued an "outperform" rating and set a $300.00 target price on shares of Kadant in a research report on Wednesday, February 14th.

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 217 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the sale, the director now directly owns 11,080 shares in the company, valued at approximately $3,587,814.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Kadant news, Director Thomas C. Leonard sold 217 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the sale, the director now directly owns 11,080 shares in the company, valued at approximately $3,587,814.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacy D. Krause sold 700 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the completion of the sale, the senior vice president now owns 881 shares of the company's stock, valued at $288,087. The disclosure for this sale can be found here. Insiders have sold 8,798 shares of company stock valued at $2,899,004 in the last quarter. 1.40% of the stock is 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.