Atria Investments Inc Buys 252 Shares of Kadant Inc. (NYSE:KAI)

Atria Investments Inc grew its holdings in Kadant Inc. (NYSE:KAI) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,564 shares of the industrial products company’s stock after acquiring an additional 252 shares during the quarter. Atria Investments Inc’s holdings in Kadant were worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new stake in shares of Kadant during the 1st quarter worth approximately $209,000. Envestnet Portfolio Solutions Inc. raised its position in Kadant by 7.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 57 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Kadant by 13.5% during the 1st quarter. Russell Investments Group Ltd. now owns 5,005 shares of the industrial products company’s stock worth $1,642,000 after buying an additional 597 shares during the period. Blair William & Co. IL grew its stake in shares of Kadant by 1.9% in the first quarter. Blair William & Co. IL now owns 23,937 shares of the industrial products company’s stock worth $7,854,000 after purchasing an additional 442 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Kadant by 46.3% in the first 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 during the period. 96.13% of the stock is owned by institutional investors.

Kadant Stock Down 0.2 %

KAI stock opened at $391.88 on Friday. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 40.11 and a beta of 1.21. 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 stock has a fifty day moving average of $338.30 and a 200-day moving average of $312.90. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.69 EPS. As a group, equities research analysts predict that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Announces Dividend

The business also recently declared 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 of this dividend is Thursday, January 9th. Kadant’s payout ratio is 13.10%.

Wall Street Analyst Weigh In

KAI has been the topic of several recent analyst reports. DA Davidson boosted their price target on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barrington Research restated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a report on Wednesday, October 30th.

Insiders Place Their Bets

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 4,250 shares in the company, valued at $1,433,950. This represents a 32.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.