Kadant Inc. (KAI) Shares Bought by Seizert Capital Partners LLC
Seizert Capital Partners LLC increased its position in Kadant Inc. (NYSE:KAI) by 327.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 32,282 shares of the industrial products company’s stock after buying an additional 24,736 shares during the period. Seizert Capital Partners LLC owned approximately 0.30% of Kadant worth $1,916,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Kadant by 400.0% in the fourth quarter. Bessemer Group Inc. now owns 2,000 shares of the industrial products company’s stock worth $122,000 after buying an additional 1,600 shares in the last quarter. Guggenheim Capital LLC bought a new position in Kadant during the fourth quarter worth $201,000. TFS Capital LLC bought a new position in Kadant during the first quarter worth $286,000. Martingale Asset Management L P bought a new position in Kadant during the fourth quarter worth $295,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Kadant during the fourth quarter worth $332,000. Institutional investors own 90.14% of the company’s stock.
Shares of Kadant Inc. (NYSE:KAI) traded up 1.44% during midday trading on Friday, hitting $70.25. 47,837 shares of the company were exchanged. The stock has a market capitalization of $772.75 million, a price-to-earnings ratio of 22.97 and a beta of 1.30. The company has a 50-day moving average price of $64.40 and a 200-day moving average price of $61.59. Kadant Inc. has a 52-week low of $47.50 and a 52-week high of $75.95.
Kadant (NYSE:KAI) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. Kadant had a net margin of 8.24% and a return on equity of 13.36%. The firm had revenue of $102.86 million during the quarter, compared to the consensus estimate of $99.30 million. On average, analysts forecast that Kadant Inc. will post $3.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, July 11th. Kadant’s payout ratio is 24.28%.
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A number of research firms have weighed in on KAI. Zacks Investment Research cut shares of Kadant from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. William Blair raised shares of Kadant from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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