Erste Asset Management GmbH Invests $11.35 Million in Kadant Inc. (NYSE:KAI)

Erste Asset Management GmbH acquired a new stake in shares of Kadant Inc. (NYSE:KAI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,859 shares of the industrial products company’s stock, valued at approximately $11,345,000. Erste Asset Management GmbH owned 0.29% of Kadant as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Hsbc Holdings PLC increased its holdings in shares of Kadant by 133.3% in the 2nd quarter. Hsbc Holdings PLC now owns 3,066 shares of the industrial products company’s stock valued at $902,000 after acquiring an additional 1,752 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Kadant by 16.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 793 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 110 shares in the last quarter. Raymond James & Associates grew its stake in Kadant by 6.5% in the second quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock valued at $24,712,000 after purchasing an additional 5,167 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Kadant in the second quarter worth about $615,000. Finally, Victory Capital Management Inc. lifted its position in shares of Kadant by 14.0% during the third quarter. Victory Capital Management Inc. now owns 3,476 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 426 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th.

Insider Buying and Selling at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 32.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the completion of the sale, the director now directly owns 1,293 shares in the company, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,052 shares of company stock worth $1,091,455. 1.40% of the stock is currently owned by insiders.

Kadant Stock Up 2.3 %

Shares of KAI stock opened at $412.79 on Monday. The stock’s fifty day moving average price is $355.60 and its 200 day moving average price is $322.19. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 42.25 and a beta of 1.21. 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 (NYSE:KAI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million during the quarter, compared to analyst estimates of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Kadant’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $2.69 EPS. On average, research analysts expect that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be paid a $0.32 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a yield of 0.31%. Kadant’s dividend payout ratio (DPR) 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.