Kadant Inc. (NYSE:KAI) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its position in shares of Kadant Inc. (NYSE:KAI) by 19.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,777 shares of the industrial products company’s stock after buying an additional 603 shares during the period. Citigroup Inc.’s holdings in Kadant were worth $308,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KAI. Royce & Associates LP raised its holdings in shares of Kadant by 17.8% in the 4th quarter. Royce & Associates LP now owns 573,285 shares of the industrial products company’s stock worth $46,700,000 after purchasing an additional 86,463 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kadant by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 106,323 shares of the industrial products company’s stock worth $8,661,000 after purchasing an additional 5,487 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Kadant in the 4th quarter worth approximately $81,000. LPL Financial LLC bought a new stake in shares of Kadant in the 4th quarter worth approximately $306,000. Finally, First Trust Advisors LP raised its holdings in shares of Kadant by 5.8% during the fourth quarter. First Trust Advisors LP now owns 35,863 shares of the industrial products company’s stock valued at $2,921,000 after acquiring an additional 1,953 shares during the period. 93.35% of the stock is owned by institutional investors.

KAI traded up $1.06 on Friday, reaching $96.44. 67,463 shares of the company traded hands, compared to its average volume of 59,016. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.96. The company has a market capitalization of $1.08 billion, a PE ratio of 18.09 and a beta of 1.08. Kadant Inc. has a 52-week low of $76.44 and a 52-week high of $111.85.

Kadant (NYSE:KAI) last posted its earnings results on Thursday, February 14th. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.31. The company had revenue of $163.94 million during the quarter, compared to the consensus estimate of $160.67 million. Kadant had a net margin of 9.53% and a return on equity of 17.14%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts forecast that Kadant Inc. will post 5.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.23 per share. This is an increase from Kadant’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, April 8th.

A number of equities research analysts have recently issued reports on the stock. Barrington Research restated a “buy” rating and set a $110.00 price target on shares of Kadant in a report on Tuesday, February 26th. Zacks Investment Research upgraded shares of Kadant from a “sell” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine upgraded shares of Kadant from a “sell” rating to a “hold” rating in a report on Thursday, April 4th.

In related news, Director William P. Tully sold 1,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $88.36, for a total transaction of $132,540.00. Following the completion of the sale, the director now directly owns 5,200 shares of the company’s stock, valued at approximately $459,472. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

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Kadant Company Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

Further Reading: Stock Symbol

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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