Wells Fargo & Company MN cut its stake in shares of Kadant Inc (NYSE:KAI) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 492,825 shares of the industrial products company’s stock after selling 304,112 shares during the quarter. Wells Fargo & Company MN owned approximately 4.48% of Kadant worth $48,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Citigroup Inc. boosted its stake in Kadant by 24.2% during the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 275 shares in the last quarter. SG Americas Securities LLC bought a new position in Kadant during the second quarter worth $127,000. BNP Paribas Arbitrage SA boosted its stake in Kadant by 718.3% during the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 1,530 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Kadant during the second quarter worth $150,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Kadant during the second quarter worth $176,000. 90.99% of the stock is currently owned by institutional investors and hedge funds.

In other Kadant news, VP Sandra L. Lambert sold 6,437 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $108.66, for a total value of $699,444.42. Following the transaction, the vice president now directly owns 20,942 shares of the company’s stock, valued at $2,275,557.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan W. Painter sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $103.82, for a total transaction of $2,076,400.00. Following the completion of the transaction, the chief executive officer now directly owns 76,082 shares in the company, valued at $7,898,833.24. The disclosure for this sale can be found here. Insiders sold 27,687 shares of company stock worth $2,887,844 over the last ninety days. Insiders own 5.59% of the company’s stock.

KAI has been the topic of several research analyst reports. Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 target price on the stock in a research note on Thursday, November 2nd. ValuEngine raised shares of Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price on the stock. in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Kadant currently has an average rating of “Buy” and an average target price of $104.67.

Kadant Inc (NYSE KAI) opened at $102.00 on Friday. Kadant Inc has a 12 month low of $56.15 and a 12 month high of $114.00. The stock has a market cap of $1,122.71, a price-to-earnings ratio of 25.37 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35.

Kadant (NYSE:KAI) last released its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The firm had revenue of $152.79 million for the quarter, compared to analyst estimates of $141.33 million. During the same period last year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. analysts predict that Kadant Inc will post 4.39 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 11th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is 24.85%.

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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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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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