BNP Paribas Arbitrage SA cut its holdings in Kadant Inc (NYSE:KAI) by 33.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,156 shares of the industrial products company’s stock after selling 587 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Kadant were worth $114,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP purchased a new stake in shares of Kadant in the 3rd quarter worth about $3,611,000. Alps Advisors Inc. bought a new position in Kadant in the 3rd quarter worth about $515,000. State Street Corp boosted its stake in Kadant by 1.3% in the 2nd quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock worth $17,590,000 after purchasing an additional 2,895 shares in the last quarter. Sterling Capital Management LLC bought a new position in Kadant in the 2nd quarter worth about $580,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Kadant by 16.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 61,736 shares of the industrial products company’s stock worth $4,643,000 after purchasing an additional 8,567 shares in the last quarter. 90.99% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Inc (NYSE:KAI) opened at $99.05 on Friday. The stock has a market cap of $1,088.59, a PE ratio of 24.60 and a beta of 1.36. Kadant Inc has a one year low of $56.15 and a one year high of $114.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.35 and a quick ratio of 1.65.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. The company had revenue of $152.79 million for the quarter, compared to analysts’ expectations of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 14.84%. Kadant’s revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. analysts expect that Kadant Inc will post 4.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 11th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.85%. The ex-dividend date is Wednesday, January 10th. Kadant’s dividend payout ratio is currently 24.85%.

A number of brokerages recently issued reports on KAI. ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Sidoti cut shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price target on the stock in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $104.67.

In other Kadant news, VP Sandra L. Lambert sold 6,437 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $108.66, for a total transaction of $699,444.42. Following the transaction, the vice president now owns 20,942 shares in the company, valued at approximately $2,275,557.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Tully sold 1,250 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the transaction, the director now owns 5,250 shares in the company, valued at approximately $470,400. The disclosure for this sale can be found here. Insiders have sold a total of 31,287 shares of company stock worth $3,244,748 in the last 90 days. Company insiders own 5.59% of the company’s stock.

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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.

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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