Kadant Inc. (NYSE:KAI) Shares Sold by Erste Asset Management GmbH

by · The Markets Daily

Erste Asset Management GmbH trimmed its holdings in Kadant Inc. (NYSE:KAI – Free Report) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,350 shares of the industrial products company’s stock after selling 6,509 shares during the quarter. Erste Asset Management GmbH owned approximately 0.23% of Kadant worth $9,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Kadant in the third quarter valued at $25,000. Hilltop National Bank purchased a new position in shares of Kadant during the fourth quarter worth about $26,000. Icon Wealth Advisors LLC acquired a new position in Kadant in the 3rd quarter valued at about $28,000. Westside Investment Management Inc. acquired a new position in Kadant in the 3rd quarter valued at about $31,000. Finally, Jones Financial Companies Lllp raised its stake in Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

Shares of KAI stock opened at $338.04 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $368.53 and a 200-day simple moving average of $357.38. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 35.66 and a beta of 1.25. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95.

Kadant (NYSE:KAI – Get Free Report) last released its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 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%. On average, equities analysts forecast that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a yield of 0.40%. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s payout ratio is currently 14.35%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on KAI

Kadant Company Profile

(Free Report)

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.

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