Kadant Inc. (NYSE:KAI) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in shares of Kadant Inc. (NYSE:KAI) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,392 shares of the industrial products company’s stock after selling 764 shares during the period. King Luther Capital Management Corp’s holdings in Kadant were worth $2,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KAI. Atria Investments Inc raised its stake in Kadant by 4.7% during the third quarter. Atria Investments Inc now owns 5,564 shares of the industrial products company’s stock worth $1,881,000 after purchasing an additional 252 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Kadant during the 3rd quarter valued at approximately $25,000. Aptus Capital Advisors LLC lifted its holdings in Kadant by 15.5% in the third quarter. Aptus Capital Advisors LLC now owns 23,585 shares of the industrial products company’s stock valued at $7,972,000 after acquiring an additional 3,164 shares during the last quarter. Victory Capital Management Inc. grew its position in Kadant by 14.0% in the third quarter. Victory Capital Management Inc. now owns 3,476 shares of the industrial products company’s stock worth $1,175,000 after acquiring an additional 426 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Kadant by 40.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 20,440 shares of the industrial products company’s stock worth $6,909,000 after acquiring an additional 5,867 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $410.00 price target on shares of Kadant in a report on Friday, February 14th.

Kadant Price Performance

Kadant stock opened at $344.81 on Thursday. The company’s 50 day simple moving average is $368.53 and its 200-day simple moving average is $357.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 36.37 and a beta of 1.25.

Kadant (NYSE:KAI) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. As a group, equities research analysts expect that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.39%. This is a boost from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. Kadant’s dividend payout ratio (DPR) is 14.35%.

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.