International Assets Investment Management LLC Acquires New Position in Kadant Inc. (NYSE:KAI)

International Assets Investment Management LLC acquired a new stake in Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,606 shares of the industrial products company's stock, valued at approximately $1,571,000.

Several other hedge funds have also added to or reduced their stakes in KAI. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Kadant in the 3rd quarter valued at $110,849,000. Raymond James & Associates grew its holdings in shares of Kadant by 137.9% during the fourth quarter. Raymond James & Associates now owns 82,151 shares of the industrial products company's stock worth $23,028,000 after buying an additional 47,618 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Kadant by 50.1% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 57,053 shares of the industrial products company's stock valued at $12,868,000 after acquiring an additional 19,047 shares in the last quarter. Natixis Advisors L.P. acquired a new position in Kadant during the 3rd quarter worth approximately $4,000,000. Finally, Advantage Alpha Capital Partners LP bought a new position in shares of Kadant during the 3rd quarter worth approximately $3,604,000. Institutional investors and hedge funds own 96.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. William Blair restated an "outperform" rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research restated an "outperform" rating and issued a $360.00 price objective on shares of Kadant in a report on Monday, April 29th.

Kadant Stock Down 0.0 %

Shares of NYSE KAI traded down $0.07 during trading hours on Tuesday, hitting $282.46. The company had a trading volume of 78,450 shares, compared to its average volume of 94,382. The stock has a market capitalization of $3.32 billion, a P/E ratio of 29.43 and a beta of 1.30. Kadant Inc. has a 1-year low of $186.99 and a 1-year high of $354.02. The firm's 50 day moving average is $302.34 and its 200-day moving average is $285.95. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.42. The firm had revenue of $248.98 million during the quarter, compared to analysts' expectations of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 earnings per share. On average, analysts expect that Kadant Inc. will post 10.01 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.32 per share. This is an increase from Kadant's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, April 9th. Kadant's payout ratio is currently 13.33%.

Insider Buying and Selling

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now directly owns 7,615 shares of the company's stock, valued at $2,514,853.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction dated 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 directly owns 7,615 shares of the company's stock, valued at $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacy D. Krause sold 881 shares of Kadant stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $327.00, for a total transaction of $288,087.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,798 shares of company stock valued at $2,899,004. 1.40% of the stock is owned by insiders.

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.