GHP Investment Advisors Inc. Sells 582 Shares of Kadant Inc. (NYSE:KAI)

GHP Investment Advisors Inc. trimmed its holdings in Kadant Inc. (NYSE:KAI) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,614 shares of the industrial products company’s stock after selling 582 shares during the period. GHP Investment Advisors Inc. owned about 0.13% of Kadant worth $4,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KAI. Vanguard Group Inc. lifted its stake in Kadant by 46.3% during the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock valued at $317,482,000 after acquiring an additional 306,352 shares in the last quarter. Capital World Investors bought a new position in shares of Kadant during the first quarter valued at about $92,993,000. Wells Fargo & Company MN boosted its holdings in Kadant by 1,578.8% during the fourth quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock worth $20,795,000 after purchasing an additional 69,766 shares during the last quarter. F M Investments LLC bought a new stake in Kadant in the 2nd quarter worth about $13,495,000. Finally, Stifel Financial Corp increased its stake in Kadant by 2,082.5% in the 4th quarter. Stifel Financial Corp now owns 40,355 shares of the industrial products company’s stock valued at $11,312,000 after buying an additional 38,506 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KAI. DA Davidson boosted their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research report on Wednesday, June 26th.

Kadant Stock Up 3.1 %

KAI opened at $323.65 on Friday. Kadant Inc. has a twelve month low of $214.21 and a twelve month high of $363.40. The company’s 50-day moving average price is $318.24 and its two-hundred day moving average price is $303.40. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 33.71 and a beta of 1.21. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 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 for the quarter, compared to analysts’ expectations of $263.50 million. During the same quarter in the previous year, the firm posted $2.54 EPS. Kadant’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Kadant Inc. will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

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. This represents a $1.28 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is currently 13.33%.

Kadant 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.