California State Teachers Retirement System Sells 1,900 Shares of Kadant Inc (NYSE:KAI)

California State Teachers Retirement System decreased its holdings in shares of Kadant Inc (NYSE:KAI) by 9.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,191 shares of the industrial products company’s stock after selling 1,900 shares during the period. California State Teachers Retirement System owned 0.17% of Kadant worth $1,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KAI. Teachers Advisors LLC boosted its holdings in shares of Kadant by 476.6% in the 2nd quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock valued at $10,703,000 after buying an additional 117,641 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Kadant by 62.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 154,196 shares of the industrial products company’s stock worth $11,596,000 after purchasing an additional 59,097 shares in the last quarter. EAM Investors LLC acquired a new stake in Kadant in the 2nd quarter worth approximately $3,549,000. Renaissance Technologies LLC boosted its stake in Kadant by 125.7% in the 1st quarter. Renaissance Technologies LLC now owns 78,100 shares of the industrial products company’s stock worth $4,635,000 after purchasing an additional 43,500 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in Kadant in the 2nd quarter worth approximately $3,008,000. 90.99% of the stock is currently owned by institutional investors and hedge funds.

Kadant Inc (NYSE KAI) traded up $0.55 during trading hours on Wednesday, hitting $102.60. 99,343 shares of the stock traded hands, compared to its average volume of 59,688. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. The stock has a market cap of $1,126.05, a price-to-earnings ratio of 25.45 and a beta of 1.36. Kadant Inc has a 52-week low of $56.15 and a 52-week high of $114.00.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.82%. The ex-dividend date is Wednesday, January 10th. Kadant’s payout ratio is presently 24.85%.

KAI has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine cut shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Sidoti cut shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research note on Tuesday, October 3rd. 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. The company has an average rating of “Buy” and an average target price of $104.67.

In other Kadant news, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction on Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the sale, the director now owns 5,250 shares of the company’s stock, valued at approximately $470,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan W. Painter sold 20,000 shares of Kadant stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $103.82, for a total transaction of $2,076,400.00. Following the sale, the chief executive officer now directly owns 76,082 shares in the company, valued at approximately $7,898,833.24. The disclosure for this sale can be found here. In the last three months, insiders sold 27,687 shares of company stock valued at $2,887,844. 5.59% of the stock is owned by insiders.

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About Kadant

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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