GHP Investment Advisors Inc. Has $5.18 Million Holdings in Kadant Inc. (NYSE:KAI)

GHP Investment Advisors Inc. trimmed its position in shares of Kadant Inc. (NYSE:KAI) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,314 shares of the industrial products company’s stock after selling 300 shares during the quarter. GHP Investment Advisors Inc. owned approximately 0.13% of Kadant worth $5,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Kadant in the second quarter valued at approximately $29,000. Park Place Capital Corp lifted its stake in shares of Kadant by 68.6% in the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Kadant in the 3rd quarter valued at $74,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Kadant by 226.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 190 shares in the last quarter. Finally, Covestor Ltd increased its position in Kadant by 31,600.0% during the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after buying an additional 316 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

KAI has been the subject of several recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research note on Friday, September 20th. DA Davidson upped their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Kadant Trading Down 0.5 %

Shares of Kadant stock opened at $316.45 on Friday. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40. The company’s fifty day simple moving average is $321.82 and its 200-day simple moving average is $304.67. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 32.96 and a beta of 1.21. The company has a current ratio of 2.25, a quick ratio of 1.40 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million for the quarter, compared to analyst estimates of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $2.54 EPS. As a group, sell-side analysts expect that Kadant Inc. will post 9.93 EPS for the current year.

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.40%. Kadant’s dividend payout ratio is currently 13.33%.

Insiders Place Their Bets

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

About Kadant

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.