Aviva PLC Has $18.27 Million Holdings in Kadant Inc. (NYSE:KAI)

Aviva PLC decreased its stake in Kadant Inc. (NYSE:KAI – Get Rating) by 38.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,448 shares of the industrial products company’s stock after selling 3,408 shares during the quarter. Aviva PLC’s holdings in Kadant were worth $18,265,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KAI. Bank of New York Mellon Corp boosted its stake in Kadant by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 58,089 shares of the industrial products company’s stock valued at $11,281,000 after buying an additional 342 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Kadant by 55.3% in the 1st quarter. MetLife Investment Management LLC now owns 6,200 shares of the industrial products company’s stock valued at $1,204,000 after buying an additional 2,209 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Kadant by 11.3% in the 1st quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company’s stock valued at $333,000 after buying an additional 175 shares in the last quarter. Sei Investments Co. boosted its stake in Kadant by 4.6% in the 1st quarter. Sei Investments Co. now owns 51,084 shares of the industrial products company’s stock valued at $9,920,000 after buying an additional 2,247 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Kadant by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 596,592 shares of the industrial products company’s stock valued at $115,852,000 after buying an additional 11,438 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on KAI. DA Davidson boosted their price target on Kadant from $182.00 to $205.00 in a research note on Friday, February 17th. Barrington Research reiterated an “outperform” rating and issued a $229.00 price objective on shares of Kadant in a research report on Monday, February 13th. StockNews.com started coverage on Kadant in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of Kadant in a research report on Monday, May 8th.

Kadant Trading Down 1.8 %

KAI stock opened at $189.00 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 20.50, a PEG ratio of 2.67 and a beta of 1.19. Kadant Inc. has a twelve month low of $154.19 and a twelve month high of $221.27. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $195.22 and a 200-day moving average of $195.06.

Kadant (NYSE:KAI – Get Rating) last released its earnings results on Tuesday, May 2nd. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.27. The company had revenue of $229.80 million during the quarter, compared to the consensus estimate of $221.63 million. Kadant had a return on equity of 17.12% and a net margin of 11.87%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. As a group, equities research analysts expect that Kadant Inc. will post 9.02 EPS for the current year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Thursday, July 13th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.61%. Kadant’s payout ratio is currently 12.58%.

Insider Transactions at Kadant

In related news, CFO Michael J. Mckenney sold 1,364 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $201.35, for a total value of $274,641.40. Following the completion of the sale, the chief financial officer now owns 21,988 shares in the company, valued at $4,427,283.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael J. Mckenney sold 1,364 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $201.35, for a total value of $274,641.40. Following the completion of the sale, the chief financial officer now owns 21,988 shares in the company, valued at $4,427,283.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Mckenney sold 2,335 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $207.73, for a total value of $485,049.55. Following the completion of the sale, the chief financial officer now owns 24,653 shares of the company’s stock, valued at approximately $5,121,167.69. The disclosure for this sale can be found here. Insiders sold a total of 5,780 shares of company stock worth $1,179,960 over the last 90 days. 1.40% of the stock is owned by insiders.

Kadant Profile

(Get Rating)

Kadant Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The firm’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.