Balyasny Asset Management L.P. Sells 12,884 Shares of Kadant Inc. (NYSE:KAI)

Balyasny Asset Management L.P. lessened its holdings in Kadant Inc. (NYSE:KAI) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,944 shares of the industrial products company’s stock after selling 12,884 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Kadant were worth $6,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KAI. Hilltop National Bank acquired a new stake in Kadant in the 4th quarter worth about $26,000. Jones Financial Companies Lllp raised its position in shares of Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after buying an additional 75 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Kadant in the fourth quarter valued at approximately $85,000. Avanza Fonder AB acquired a new stake in Kadant during the fourth quarter worth approximately $160,000. Finally, KBC Group NV increased its stake in Kadant by 54.6% during the 4th quarter. KBC Group NV now owns 504 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 178 shares during the period. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. DA Davidson reduced their target price on Kadant from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Barrington Research reissued an “outperform” rating and issued a $380.00 target price on shares of Kadant in a report on Thursday, May 1st.

Kadant Trading Up 1.0 %

Shares of KAI stock opened at $303.85 on Friday. Kadant Inc. has a fifty-two week low of $266.23 and a fifty-two week high of $429.95. The stock’s fifty day moving average price is $324.33 and its two-hundred day moving average price is $355.47. 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 company has a market cap of $3.58 billion, a PE ratio of 32.05 and a beta of 1.30.

Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.13. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $239.41 million. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Kadant’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Equities analysts predict that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th were paid a $0.34 dividend. This is an increase from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.45%. Kadant’s dividend payout ratio is presently 14.44%.

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.