Kadant Inc. (NYSE:KAI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Kadant Inc. (NYSE:KAI) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,766 shares of the industrial products company’s stock after acquiring an additional 611 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.98% of Kadant worth $32,170,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new stake in shares of Kadant in the 3rd quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its holdings in 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 buying an additional 50 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Kadant in the fourth quarter valued at $54,000. SG Americas Securities LLC purchased a new stake in Kadant during the 4th quarter worth about $165,000. Finally, Strs Ohio boosted its position in shares of Kadant by 200.0% during the 4th quarter. Strs Ohio now owns 600 shares of the industrial products company’s stock worth $168,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KAI shares. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Monday, April 29th. William Blair reissued an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Kadant Stock Performance

NYSE KAI opened at $285.05 on Wednesday. The company has a fifty day moving average of $297.16 and a two-hundred day moving average of $288.18. The company has a market capitalization of $3.35 billion, a PE ratio of 29.69 and a beta of 1.30. Kadant Inc. has a 1 year low of $186.99 and a 1 year high of $354.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27.

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

Kadant Announces Dividend

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

Insider Activity at Kadant

In other Kadant news, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the transaction, the director now directly owns 11,080 shares in the company, valued at $3,587,814.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kadant news, Director Thomas C. Leonard sold 217 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total transaction of $70,266.77. Following the completion of the sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacy D. Krause sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total value of $228,900.00. Following the completion of the transaction, the senior vice president now directly owns 881 shares in the company, valued at approximately $288,087. The disclosure for this sale can be found here. Insiders sold a total of 8,798 shares of company stock worth $2,899,004 in the last 90 days. 1.40% of the stock is owned by insiders.

About Kadant

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.