Cwm LLC Increases Stake in Kadant Inc. (NYSE:KAI)

Defense World · Apr 29, 2023 05:33

Cwm LLC increased its position in shares of Kadant Inc. (NYSE:KAI – Get Rating) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 439 shares of the industrial products company's stock after buying an additional 82 shares during the period. Cwm LLC's holdings in Kadant were worth $78,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KAI. Bank of New York Mellon Corp increased its stake in shares of Kadant by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 58,089 shares of the industrial products company's stock valued at $11,281,000 after buying an additional 342 shares during the period. MetLife Investment Management LLC grew its stake in Kadant by 55.3% in the first quarter. MetLife Investment Management LLC now owns 6,200 shares of the industrial products company's stock valued at $1,204,000 after purchasing an additional 2,209 shares during the last quarter. Raymond James Trust N.A. grew its stake in Kadant by 11.3% in the first quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company's stock valued at $333,000 after purchasing an additional 175 shares during the last quarter. Sei Investments Co. grew its stake in Kadant by 4.6% in the first quarter. Sei Investments Co. now owns 51,084 shares of the industrial products company's stock valued at $9,920,000 after purchasing an additional 2,247 shares during the last quarter. Finally, Aviva PLC purchased a new position in Kadant in the first quarter valued at about $1,483,000. Hedge funds and other institutional investors own 95.84% of the company's stock.

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Insider Buying and Selling

In related news, CFO Michael J. Mckenney sold 1,364 shares of Kadant stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $201.35, for a total transaction of $274,641.40. Following the completion of the sale, the chief financial officer now owns 21,988 shares of the company's stock, valued at $4,427,283.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael J. Mckenney sold 1,364 shares of Kadant stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $201.35, for a total transaction of $274,641.40. Following the completion of the sale, the chief financial officer now owns 21,988 shares of the company's stock, valued at $4,427,283.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Mckenney sold 1,301 shares of the business's stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $200.07, for a total value of $260,291.07. Following the completion of the transaction, the chief financial officer now directly owns 23,352 shares of the company's stock, valued at $4,672,034.64. The disclosure for this sale can be found here. Insiders sold 5,780 shares of company stock valued at $1,179,960 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KAI shares. DA Davidson lifted their target price on Kadant from $182.00 to $205.00 in a research note on Friday, February 17th. Barrington Research reiterated an "outperform" rating and issued a $229.00 target price on shares of Kadant in a research note on Monday, February 13th. Finally, StockNews.com upgraded Kadant from a "hold" rating to a "buy" rating in a research note on Wednesday, March 22nd.

Kadant Price Performance

Shares of NYSE KAI opened at $185.83 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 1.95. The company has a market cap of $2.17 billion, a PE ratio of 17.95, a P/E/G ratio of 2.58 and a beta of 1.20. The business has a 50-day simple moving average of $202.09 and a two-hundred day simple moving average of $191.78. Kadant Inc. has a fifty-two week low of $154.19 and a fifty-two week high of $221.27.

Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.33. The business had revenue of $232.10 million during the quarter, compared to the consensus estimate of $219.09 million. Kadant had a return on equity of 17.48% and a net margin of 13.37%. The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. As a group, equities analysts expect that Kadant Inc. will post 8.91 EPS for the current fiscal year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Wednesday, April 12th will be issued a dividend of $0.29 per share. This is an increase from Kadant's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.62%. Kadant's payout ratio is 11.21%.

Kadant Company Profile

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Kadant Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The firm's products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.