Mountain Pacific Investment Advisers LLC Has $19.62 Million Stake in Kadant Inc. (NYSE:KAI)

Mountain Pacific Investment Advisers LLC lowered its holdings in Kadant Inc. (NYSE:KAI) by 7.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 56,859 shares of the industrial products company’s stock after selling 4,793 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Kadant were worth $19,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Xponance Inc. boosted its position in Kadant by 5.2% during the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 37 shares during the period. Zhang Financial LLC boosted its holdings in shares of Kadant by 0.8% during the fourth quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock worth $1,813,000 after purchasing an additional 40 shares during the period. Franklin Resources Inc. grew its position in Kadant by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 44 shares in the last quarter. Trust Point Inc. increased its stake in Kadant by 1.1% in the 3rd quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 45 shares during the period. Finally, King Luther Capital Management Corp lifted its position in Kadant by 0.7% in the 3rd quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research upped their price target on shares of Kadant from $360.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th.

Kadant Stock Up 0.1 %

Shares of Kadant stock opened at $367.34 on Tuesday. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 37.60 and a beta of 1.28. The stock has a 50-day simple moving average of $375.95 and a 200-day simple moving average of $343.59. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $2.69 earnings per share. On average, equities research analysts expect that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, January 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.35%. Kadant’s payout ratio is currently 13.10%.

Insider Buying and Selling at Kadant

In related news, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the sale, the vice president now owns 1,437 shares in the company, valued at $570,848.25. This represents a 29.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rebecca Martinez O’mara sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total value of $117,777.00. Following the completion of the sale, the director now directly owns 1,293 shares in the company, valued at $507,618.87. This trade represents a 18.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,052 shares of company stock worth $416,655 over the last 90 days. Insiders own 1.40% of the company’s stock.

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.