Vancity Investment Management Ltd Sells 691 Shares of Kadant Inc. (NYSE:KAI)

Vancity Investment Management Ltd reduced its holdings in shares of Kadant Inc. (NYSE:KAI) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the industrial products company’s stock after selling 691 shares during the quarter. Vancity Investment Management Ltd’s holdings in Kadant were worth $793,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KAI. Headinvest LLC bought a new stake in shares of Kadant in the third quarter valued at $25,000. Parallel Advisors LLC raised its stake in shares of Kadant by 58.2% in the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after buying an additional 39 shares during the period. First Horizon Advisors Inc. grew its position in shares of Kadant by 37.0% in the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 50 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Kadant in the fourth quarter valued at $54,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Kadant in the fourth quarter valued at $94,000. 96.13% of the stock is currently owned by institutional investors.

Insider Transactions at Kadant

In other news, SVP Stacy D. Krause sold 881 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $327.00, for a total value of $288,087.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Stacy D. Krause sold 881 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $327.00, for a total value of $288,087.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the completion of the sale, the director now directly owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Kadant Price Performance

Kadant stock traded down $5.67 during midday trading on Friday, hitting $281.34. 70,043 shares of the company’s stock were exchanged, compared to its average volume of 90,749. Kadant Inc. has a 52-week low of $196.99 and a 52-week high of $354.02. The stock has a 50-day moving average price of $282.45 and a two-hundred day moving average price of $290.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05. The company has a market cap of $3.30 billion, a P/E ratio of 29.31 and a beta of 1.25.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.96 by $0.42. Kadant had a return on equity of 15.60% and a net margin of 11.53%. The business had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $245.56 million. During the same period in the previous year, the business earned $2.40 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Kadant Inc. will post 10.01 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Analyst Ratings Changes

KAI has been the subject of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Wednesday, June 5th. William Blair reiterated an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th.

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.