Riverbridge Partners LLC Trims Stock Position in Kadant Inc. (NYSE:KAI)

Riverbridge Partners LLC cut its stake in shares of Kadant Inc. (NYSE:KAI) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,131 shares of the industrial products company’s stock after selling 20,917 shares during the period. Kadant accounts for approximately 1.3% of Riverbridge Partners LLC’s holdings, making the stock its 29th biggest holding. Riverbridge Partners LLC’s holdings in Kadant were worth $93,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KAI. Dimensional Fund Advisors LP increased its holdings in Kadant by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock valued at $92,355,000 after purchasing an additional 5,700 shares in the last quarter. State Street Corp boosted its stake in Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after acquiring an additional 6,412 shares during the last quarter. FMR LLC lifted its position in shares of Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after purchasing an additional 1,629 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock worth $44,036,000 after acquiring an additional 2,068 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock worth $41,447,000 after purchasing an additional 31,675 shares during the period. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Stock Down 0.5 %

Kadant stock opened at $374.97 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The company has a 50-day simple moving average of $375.17 and a 200-day simple moving average of $344.36. The firm has a market capitalization of $4.40 billion, a P/E ratio of 38.38 and a beta of 1.28.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Kadant’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 EPS. As a group, equities analysts expect that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, January 10th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, January 10th. Kadant’s dividend payout ratio is currently 13.10%.

Insider Transactions at Kadant

In other Kadant news, Director Rebecca Martinez O’mara sold 300 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Fredrik H. Westerhout sold 600 shares of Kadant 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 transaction, the vice president now owns 1,437 shares in the company, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,052 shares of company stock valued at $416,655. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Kadant

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.