Envestnet Asset Management Inc. Purchases 1,109 Shares of Kadant Inc. (NYSE:KAI)

Envestnet Asset Management Inc. raised its position in Kadant Inc. (NYSE:KAIGet Rating) by 18.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,135 shares of the industrial products company’s stock after acquiring an additional 1,109 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Kadant worth $1,301,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of KAI. Wasatch Advisors Inc. lifted its stake in Kadant by 3.6% in the 1st quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company’s stock valued at $312,399,000 after acquiring an additional 55,595 shares in the last quarter. ProShare Advisors LLC lifted its stake in Kadant by 2,063.4% in the 2nd quarter. ProShare Advisors LLC now owns 46,772 shares of the industrial products company’s stock valued at $8,528,000 after acquiring an additional 44,610 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kadant by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 596,592 shares of the industrial products company’s stock valued at $115,852,000 after acquiring an additional 11,438 shares in the last quarter. SG Americas Securities LLC lifted its stake in Kadant by 236.2% in the 2nd quarter. SG Americas Securities LLC now owns 15,803 shares of the industrial products company’s stock valued at $2,882,000 after acquiring an additional 11,103 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Kadant by 24.8% in the 1st quarter. Raymond James & Associates now owns 44,983 shares of the industrial products company’s stock valued at $8,735,000 after acquiring an additional 8,925 shares in the last quarter. Institutional investors own 96.40% of the company’s stock.

Kadant Trading Down 2.2 %

Shares of Kadant stock opened at $188.57 on Tuesday. Kadant Inc. has a 12-month low of $154.19 and a 12-month high of $240.47. The stock has a market cap of $2.20 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.71 and a beta of 1.16. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $173.01 and its 200-day moving average is $182.13.

Kadant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Thursday, January 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, January 4th. Kadant’s payout ratio is presently 10.21%.

Insider Buying and Selling

In related news, Director William P. Tully sold 505 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $171.36, for a total transaction of $86,536.80. Following the transaction, the director now directly owns 3,346 shares of the company’s stock, valued at approximately $573,370.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William P. Tully sold 505 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $171.36, for a total transaction of $86,536.80. Following the transaction, the director now directly owns 3,346 shares of the company’s stock, valued at approximately $573,370.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Albertine sold 1,200 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $170.00, for a total value of $204,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at $1,158,210. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,957 shares of company stock valued at $333,301. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KAI has been the topic of a number of analyst reports. Barrington Research dropped their price objective on Kadant from $239.00 to $229.00 in a research note on Thursday, November 3rd. StockNews.com cut Kadant from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

About Kadant

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Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

Further Reading

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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