Kadant Inc. (NYSE:KAI) Shares Purchased by Select Equity Group L.P.

Select Equity Group L.P. increased its holdings in shares of Kadant Inc. (NYSE:KAI) by 217.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,762 shares of the industrial products company’s stock after acquiring an additional 3,946 shares during the period. Select Equity Group L.P.’s holdings in Kadant were worth $1,066,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. RMB Capital Management LLC grew its position in shares of Kadant by 5.4% during the 1st quarter. RMB Capital Management LLC now owns 56,817 shares of the industrial products company’s stock valued at $10,512,000 after acquiring an additional 2,895 shares during the period. Barclays PLC grew its position in shares of Kadant by 153.4% during the 1st quarter. Barclays PLC now owns 10,365 shares of the industrial products company’s stock valued at $1,917,000 after acquiring an additional 6,274 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of Kadant during the 1st quarter valued at about $65,000. Rhumbline Advisers grew its position in shares of Kadant by 2.7% during the 4th quarter. Rhumbline Advisers now owns 20,356 shares of the industrial products company’s stock valued at $2,870,000 after acquiring an additional 537 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Kadant by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 209,668 shares of the industrial products company’s stock valued at $38,792,000 after buying an additional 1,567 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Wednesday, April 28th. Barrington Research raised their price target on shares of Kadant from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th.

KAI traded up $1.17 during trading on Thursday, reaching $177.92. The company’s stock had a trading volume of 7 shares, compared to its average volume of 28,920. The company has a current ratio of 2.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $172.87. Kadant Inc. has a 1 year low of $104.15 and a 1 year high of $189.40. The company has a market capitalization of $2.06 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 3.60 and a beta of 1.33.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, May 4th. The industrial products company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.07. Kadant had a net margin of 9.13% and a return on equity of 13.01%. The business had revenue of $172.46 million for the quarter, compared to analyst estimates of $170.02 million. During the same period last year, the company posted $1.09 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that Kadant Inc. will post 6.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 12th. Shareholders of record on Thursday, July 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 14th. Kadant’s dividend payout ratio (DPR) is 20.00%.

In other Kadant news, VP Stacy D. Krause sold 1,762 shares of the firm’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $175.00, for a total value of $308,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erin L. Russell sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, June 24th. The stock was sold at an average price of $180.00, for a total transaction of $81,000.00. Following the sale, the director now owns 3,548 shares of the company’s stock, valued at approximately $638,640. The disclosure for this sale can be found here. Insiders sold a total of 3,150 shares of company stock worth $551,558 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Kadant Profile

Kadant Inc supplies critical components and engineered systems worldwide. It operates through 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, profiling systems, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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