Loomis Sayles & Co. L P grew its holdings in Kadant Inc. (NYSE:KAI) by 18.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,064 shares of the industrial products company’s stock after buying an additional 37,236 shares during the period. Loomis Sayles & Co. L P’s holdings in Kadant were worth $25,244,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in KAI. Ramsey Quantitative Systems bought a new position in shares of Kadant in the 3rd quarter valued at $121,000. PEAK6 Investments L.P. bought a new position in shares of Kadant in the 2nd quarter valued at $207,000. Nisa Investment Advisors LLC bought a new position in shares of Kadant in the 2nd quarter valued at $212,000. Milestone Group Inc. bought a new position in shares of Kadant in the 3rd quarter valued at $216,000. Finally, GSA Capital Partners LLP bought a new position in shares of Kadant in the 2nd quarter valued at $236,000. 91.39% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Barrington Research reiterated a “buy” rating and issued a $112.00 price target on shares of Kadant in a research note on Monday, September 17th. ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Finally, Zacks Investment Research lowered Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st.
In related news, Director John M. Albertine sold 4,500 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $103.15, for a total transaction of $464,175.00. Following the sale, the director now owns 10,740 shares in the company, valued at approximately $1,107,831. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Tully sold 750 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $99.66, for a total value of $74,745.00. Following the sale, the director now owns 6,025 shares in the company, valued at approximately $600,451.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,250 shares of company stock worth $1,163,920 in the last 90 days. 5.40% of the stock is currently owned by corporate insiders.
Shares of KAI opened at $85.89 on Thursday. Kadant Inc. has a 52-week low of $85.47 and a 52-week high of $111.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 1.88. The firm has a market capitalization of $954.01 million, a PE ratio of 19.13 and a beta of 1.22.
Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.15. Kadant had a return on equity of 15.90% and a net margin of 6.91%. The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.72 million. During the same quarter last year, the company posted $1.49 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Kadant Inc. will post 5.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, October 11th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, October 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.02%. Kadant’s dividend payout ratio is currently 19.60%.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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