Kadant Inc. (NYSE:KAI) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lowered its stake in Kadant Inc. (NYSE:KAI) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,408 shares of the industrial products company’s stock after selling 180 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Kadant were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KAI. Benjamin F. Edwards & Company Inc. bought a new position in shares of Kadant in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new position in Kadant during the second quarter valued at about $29,000. Park Place Capital Corp grew its holdings in Kadant by 68.6% during the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 83 shares during the period. Covestor Ltd lifted its holdings in Kadant by 31,600.0% in the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 316 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Kadant during the 1st quarter valued at about $141,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Friday, September 20th. DA Davidson raised their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Kadant Stock Up 2.2 %

Shares of Kadant stock traded up $7.12 during midday trading on Wednesday, hitting $336.65. The company’s stock had a trading volume of 9,068 shares, compared to its average volume of 82,473. The firm has a market capitalization of $3.95 billion, a P/E ratio of 34.81 and a beta of 1.21. Kadant Inc. has a 1-year low of $214.21 and a 1-year high of $363.40. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $318.20 and a 200-day simple moving average of $303.81.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The company had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same quarter in the prior year, the firm earned $2.54 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be issued a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. Kadant’s dividend payout ratio is currently 13.33%.

Insider Activity at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at $1,433,950. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Kadant Company Profile

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.