Dudley & Shanley Inc. Has $3.03 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Dudley & Shanley Inc. boosted its holdings in shares of Kadant Inc. (NYSE:KAI) by 38.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,230 shares of the industrial products company’s stock after acquiring an additional 2,540 shares during the period. Kadant accounts for 0.5% of Dudley & Shanley Inc.’s portfolio, making the stock its 27th largest position. Dudley & Shanley Inc.’s holdings in Kadant were worth $3,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in Kadant by 58.2% during the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after buying an additional 39 shares in the last quarter. Headinvest LLC acquired a new position in Kadant in the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. grew its stake in Kadant by 37.0% in the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Kadant during the 4th quarter worth approximately $54,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Kadant during the 4th quarter worth approximately $94,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Insider Activity at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the sale, the director now directly owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Kadant Price Performance

NYSE:KAI traded up $3.20 during mid-day trading on Wednesday, hitting $295.93. 28,931 shares of the stock traded hands, compared to its average volume of 91,725. The business’s 50-day moving average price is $280.67 and its 200 day moving average price is $292.27. The company has a market cap of $3.47 billion, a PE ratio of 30.55 and a beta of 1.24. Kadant Inc. has a 12-month low of $196.99 and a 12-month high of $354.02. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.96 by $0.42. The business had revenue of $248.98 million during the quarter, compared to analyst estimates of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.40 EPS. On average, analysts expect that Kadant Inc. will post 10.03 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio is presently 13.33%.

Analyst Ratings Changes

Several research firms have recently issued reports on KAI. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th. Barrington Research reiterated an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research report on Wednesday, June 26th.

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.