Chevy Chase Trust Holdings LLC Decreases Stake in Kadant Inc. (NYSE:KAI)

Chevy Chase Trust Holdings LLC lowered its position in Kadant Inc. (NYSE:KAI) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475,407 shares of the industrial products company’s stock after selling 9,186 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 4.05% of Kadant worth $164,011,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Kadant by 1.1% in the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after acquiring an additional 1,629 shares during the last quarter. Dudley & Shanley Inc. lifted its stake in Kadant by 196.7% in the third quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock worth $10,985,000 after acquiring an additional 21,545 shares during the last quarter. HighTower Advisors LLC lifted its stake in Kadant by 120.1% in the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 883 shares during the last quarter. Synovus Financial Corp purchased a new stake in shares of Kadant during the 3rd quarter worth approximately $585,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Kadant by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company’s stock worth $21,876,000 after buying an additional 24,358 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Down 0.8 %

Shares of NYSE:KAI opened at $354.11 on Friday. The company has a market capitalization of $4.16 billion, a PE ratio of 36.24 and a beta of 1.29. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The firm has a 50 day simple moving average of $363.64 and a 200-day simple moving average of $348.74.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 11.12% and a return on equity of 15.10%. On average, equities analysts predict that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other Kadant news, Director Thomas C. Leonard sold 152 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Fredrik H. Westerhout sold 600 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the transaction, the vice president now directly owns 1,437 shares in the company, valued at $570,848.25. This represents a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.