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

Kadant logo with Industrial Products background

Confluence Investment Management LLC bought a new position in Kadant Inc. (NYSE:KAI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,085 shares of the industrial products company's stock, valued at approximately $4,621,000. Confluence Investment Management LLC owned 0.12% of Kadant as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KAI. Parallel Advisors LLC increased its stake in Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company's stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Headinvest LLC purchased a new stake in Kadant in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. lifted its position in Kadant by 37.0% during the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 50 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Kadant in the 4th quarter worth approximately $54,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of Kadant in the 4th quarter worth $94,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insiders Place Their Bets

In other news, SVP Stacy D. Krause sold 881 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $327.00, for a total value of $288,087.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Erin L. Russell sold 1,112 shares of the firm's stock in a transaction on Friday, May 31st. The stock was sold at an average price of $279.25, for a total transaction of $310,526.00. Following the completion of the transaction, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacy D. Krause sold 881 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were 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. Company insiders own 1.40% of the company's stock.


Kadant Trading Up 0.6 %

KAI stock traded up $1.64 during midday trading on Wednesday, hitting $280.18. The company had a trading volume of 76,356 shares, compared to its average volume of 71,854. The stock's 50 day moving average price is $281.04 and its 200 day moving average price is $291.11. Kadant Inc. has a 52 week low of $196.99 and a 52 week high of $354.02. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 29.19 and a beta of 1.25.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.42. The firm had revenue of $248.98 million for 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 in the previous year, the company earned $2.40 earnings per share. As a group, equities research analysts expect that Kadant Inc. will post 10.01 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant's payout ratio is 13.33%.

Analyst Ratings Changes

KAI has been the subject of several research reports. Barrington Research reiterated an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research report on Wednesday, June 5th. William Blair reaffirmed an "outperform" rating on shares of Kadant in a research note on Tuesday, April 30th.

Read Our Latest Research Report on Kadant

Kadant Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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