Curi RMB Capital LLC Raises Holdings in Kadant Inc. (NYSE:KAI)

Curi RMB Capital LLC raised its stake in Kadant Inc. (NYSE:KAI) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,552 shares of the industrial products company’s stock after acquiring an additional 1,500 shares during the quarter. Curi RMB Capital LLC owned approximately 0.66% of Kadant worth $26,213,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KAI. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Kadant by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock worth $396,438,000 after purchasing an additional 15,512 shares during the period. Vanguard Group Inc. lifted its position in shares of Kadant by 46.3% during the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock valued at $317,482,000 after buying an additional 306,352 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kadant by 1.8% during 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 buying an additional 5,700 shares in the last quarter. Capital World Investors acquired a new stake in Kadant in the 1st quarter valued at $92,993,000. Finally, Raymond James & Associates increased its holdings in Kadant by 6.5% in the 2nd quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock worth $24,712,000 after acquiring an additional 5,167 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now directly owns 4,250 shares in the company, valued at $1,433,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Kadant Price Performance

Kadant stock opened at $392.89 on Thursday. The company has a fifty day simple moving average of $334.70 and a 200-day simple moving average of $311.61. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 40.21 and a beta of 1.21. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $422.54.

Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to the consensus estimate 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. On average, equities analysts anticipate that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Thursday, October 10th. Kadant’s payout ratio is currently 13.10%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KAI. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a research report on Wednesday, October 30th. DA Davidson boosted their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Kadant 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.