Apollon Wealth Management LLC Sells 150 Shares of Kadant Inc. (NYSE:KAI)

Apollon Wealth Management LLC lowered its holdings in Kadant Inc. (NYSE:KAI) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,774 shares of the industrial products company’s stock after selling 150 shares during the quarter. Apollon Wealth Management LLC’s holdings in Kadant were worth $600,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KAI. Ashton Thomas Securities LLC bought a new position in Kadant in the third quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Kadant in the 2nd quarter worth $29,000. Park Place Capital Corp lifted its stake in shares of Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Kadant during the third quarter valued at about $74,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Kadant by 226.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KAI. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a report on Wednesday, October 30th. DA Davidson lifted their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st.

Insider Transactions at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. This trade represents a 32.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Kadant Price Performance

Shares of KAI stock opened at $391.88 on Friday. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $422.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 40.11 and a beta of 1.21. The stock’s 50-day simple moving average is $338.30 and its 200-day simple moving average is $313.18.

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

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Thursday, January 9th. Kadant’s dividend payout ratio is presently 13.10%.

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.