Dudley & Shanley Inc. Purchases 21,545 Shares of Kadant Inc. (NYSE:KAI)

Dudley & Shanley Inc. lifted its holdings in shares of Kadant Inc. (NYSE:KAI) by 196.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,500 shares of the industrial products company’s stock after buying an additional 21,545 shares during the period. Kadant makes up 1.7% of Dudley & Shanley Inc.’s portfolio, making the stock its 22nd biggest position. Dudley & Shanley Inc. owned about 0.28% of Kadant worth $10,985,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in shares of Kadant by 12.4% in the second quarter. Raymond James Trust N.A. now owns 1,559 shares of the industrial products company’s stock worth $458,000 after acquiring an additional 172 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Kadant by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 63,955 shares of the industrial products company’s stock worth $18,789,000 after purchasing an additional 5,473 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Kadant by 87.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 47,219 shares of the industrial products company’s stock worth $13,872,000 after buying an additional 22,020 shares during the last quarter. Smith Shellnut Wilson LLC ADV bought a new stake in Kadant during the second quarter valued at approximately $242,000. Finally, Lazard Freres Gestion S.A.S. purchased a new stake in Kadant during the second quarter valued at approximately $470,000. 96.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Rebecca Martinez O’mara sold 300 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $392.59, for a total transaction of $117,777.00. Following the completion of the transaction, the director now owns 1,293 shares in the company, valued at $507,618.87. The trade was a 18.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total value of $60,527.92. Following the completion of the sale, the director now owns 4,250 shares in the company, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,052 shares of company stock worth $1,091,455. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their target price on Kadant from $360.00 to $410.00 and gave the company an “outperform” rating in a research report on Thursday.

Kadant Price Performance

Shares of NYSE:KAI traded up $1.86 during trading on Monday, hitting $348.93. 157,132 shares of the company’s stock were exchanged, compared to its average volume of 85,393. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The business’s 50-day simple moving average is $371.86 and its 200 day simple moving average is $333.69. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 35.71 and a beta of 1.25.

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

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant’s dividend payout ratio is 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.