First Trust Advisors LP Raises Stake in Kadant Inc. (KAI)

First Trust Advisors LP lifted its stake in shares of Kadant Inc. (NYSE:KAI) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,910 shares of the industrial products company’s stock after acquiring an additional 4,939 shares during the period. First Trust Advisors LP’s holdings in Kadant were worth $3,657,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Xact Kapitalforvaltning AB lifted its stake in shares of Kadant by 42.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,679 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 1,100 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Kadant in the 2nd quarter valued at $212,000. BTIM Corp. acquired a new position in shares of Kadant in the 2nd quarter valued at $13,551,000. Alps Advisors Inc. acquired a new position in shares of Kadant in the 2nd quarter valued at $524,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Kadant in the 2nd quarter valued at $953,000. 92.66% of the stock is owned by institutional investors.

KAI stock opened at $94.98 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.15 and a beta of 1.29. Kadant Inc. has a 12-month low of $90.65 and a 12-month high of $111.85.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.15. The firm had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.72 million. Kadant had a return on equity of 15.90% and a net margin of 6.91%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 EPS. On average, research analysts expect that Kadant Inc. will post 5.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, October 11th were issued a $0.22 dividend. The ex-dividend date was Wednesday, October 10th. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. Kadant’s dividend payout ratio is presently 19.60%.

In other Kadant news, CFO Michael J. Mckenney sold 5,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $103.00, for a total transaction of $515,000.00. Following the sale, the chief financial officer now owns 11,624 shares in the company, valued at approximately $1,197,272. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John M. Albertine sold 4,500 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $103.15, for a total value of $464,175.00. Following the sale, the director now owns 10,740 shares in the company, valued at approximately $1,107,831. The disclosure for this sale can be found here. Insiders sold a total of 11,250 shares of company stock worth $1,163,920 in the last quarter. Company insiders own 5.40% of the company’s stock.

Several equities analysts have recently commented on KAI shares. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Barrington Research reaffirmed a “buy” rating and issued a $112.00 price target on shares of Kadant in a research note on Monday, September 17th. Finally, Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th.

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About Kadant

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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