Wolverine Trading LLC decreased its holdings in shares of Kadant Inc. (NYSE:KAI) by 31.5% in the fourth quarter, Holdings Channel reports. The firm owned 5,340 shares of the industrial products company’s stock after selling 2,455 shares during the quarter. Wolverine Trading LLC’s holdings in Kadant were worth $536,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teachers Advisors LLC raised its position in Kadant by 3.3% during the 4th quarter. Teachers Advisors LLC now owns 154,603 shares of the industrial products company’s stock valued at $15,522,000 after purchasing an additional 4,878 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Kadant during the 4th quarter valued at approximately $898,000. Deutsche Bank AG raised its position in Kadant by 188.6% during the 4th quarter. Deutsche Bank AG now owns 67,139 shares of the industrial products company’s stock valued at $6,738,000 after purchasing an additional 43,875 shares during the last quarter. Renaissance Technologies LLC raised its position in Kadant by 60.2% during the 4th quarter. Renaissance Technologies LLC now owns 146,399 shares of the industrial products company’s stock valued at $14,698,000 after purchasing an additional 54,999 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Kadant during the 4th quarter valued at approximately $3,642,000. 90.74% of the stock is owned by institutional investors and hedge funds.
In other news, COO Eric T. Langevin sold 7,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $99.62, for a total value of $697,340.00. Following the completion of the transaction, the chief operating officer now owns 34,382 shares of the company’s stock, valued at approximately $3,425,134.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric T. Langevin sold 8,932 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $99.69, for a total value of $890,431.08. Following the completion of the transaction, the insider now directly owns 34,382 shares of the company’s stock, valued at approximately $3,427,541.58. The disclosure for this sale can be found here. Insiders sold a total of 39,073 shares of company stock valued at $3,925,732 in the last three months. Corporate insiders own 5.59% of the company’s stock.
Kadant Inc. (KAI) opened at $104.30 on Wednesday. Kadant Inc. has a 52-week low of $56.15 and a 52-week high of $114.00. The stock has a market capitalization of $1,138.09, a P/E ratio of 37.79 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.01 and a quick ratio of 1.37.
Kadant (NYSE:KAI) last announced its earnings results on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The firm had revenue of $149.14 million during the quarter, compared to analyst estimates of $144.50 million. research analysts expect that Kadant Inc. will post 5.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, April 12th will be given a $0.22 dividend. The ex-dividend date is Wednesday, April 11th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. This is a positive change from Kadant’s previous quarterly dividend of $0.21. Kadant’s dividend payout ratio is currently 30.43%.
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.
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