abrdn plc Buys 16,541 Shares of Kadant Inc. (NYSE:KAI)

abrdn plc increased its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,583 shares of the industrial products company's stock after purchasing an additional 16,541 shares during the quarter. abrdn plc owned approximately 1.01% of Kadant worth $33,240,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantum Private Wealth LLC acquired a new position in Kadant during the fourth quarter worth approximately $286,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kadant by 640.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,119 shares of the industrial products company's stock worth $2,556,000 after buying an additional 7,888 shares during the period. Mackenzie Financial Corp acquired a new position in Kadant during the fourth quarter worth approximately $205,000. Strs Ohio increased its position in Kadant by 200.0% during the fourth quarter. Strs Ohio now owns 600 shares of the industrial products company's stock worth $168,000 after buying an additional 400 shares during the period. Finally, Simplicity Solutions LLC acquired a new position in Kadant during the fourth quarter worth approximately $528,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insider Buying and Selling

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the sale, the director now directly owns 7,615 shares in the company, valued at $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas C. Leonard sold 217 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the transaction, the director now owns 7,615 shares of the company's stock, valued at approximately $2,514,853.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,798 shares of company stock worth $2,899,004. 1.40% of the stock is owned by company insiders.

Kadant Stock Performance

Shares of NYSE:KAI traded up $6.74 during trading on Tuesday, reaching $289.50. The company had a trading volume of 45,601 shares, compared to its average volume of 92,681. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.05 and a quick ratio of 1.34. The stock's fifty day moving average price is $316.06 and its 200 day moving average price is $280.16. Kadant Inc. has a fifty-two week low of $183.19 and a fifty-two week high of $354.02.

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

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, April 9th. This is an increase from Kadant's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.44%. Kadant's dividend payout ratio is 12.93%.

Wall Street Analysts Forecast Growth

KAI has been the topic of several research analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $300.00 price target on shares of Kadant in a research report on Wednesday, February 14th. StockNews.com lowered Kadant from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th.

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.