Cadence Capital Management LLC lessened its position in shares of Kadant Inc. (NYSE:KAI) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,882 shares of the industrial products company’s stock after selling 3,666 shares during the period. Cadence Capital Management LLC’s holdings in Kadant were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Kadant by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,302 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 92 shares during the period. Citigroup Inc. lifted its holdings in shares of Kadant by 24.2% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 275 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Kadant by 6.3% during the 2nd quarter. Voya Investment Management LLC now owns 6,861 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 408 shares during the period. California Public Employees Retirement System increased its position in Kadant by 3.0% during the 2nd quarter. California Public Employees Retirement System now owns 17,300 shares of the industrial products company’s stock worth $1,301,000 after purchasing an additional 500 shares in the last quarter. Finally, American International Group Inc. increased its position in Kadant by 8.1% during the 3rd quarter. American International Group Inc. now owns 7,274 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 544 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Kadant Inc. (NYSE KAI) opened at $93.15 on Monday. The stock has a market cap of $1,025.30, a P/E ratio of 27.56 and a beta of 1.34. Kadant Inc. has a 12-month low of $56.15 and a 12-month high of $114.00. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Thursday, January 11th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, January 10th. Kadant’s dividend payout ratio is 24.85%.

In related news, insider Eric T. Langevin sold 1,068 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $100.50, for a total transaction of $107,334.00. Following the completion of the transaction, the insider now directly owns 28,850 shares in the company, valued at approximately $2,899,425. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sandra L. Lambert sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.01, for a total transaction of $400,040.00. Following the completion of the transaction, the vice president now owns 19,257 shares of the company’s stock, valued at $1,925,892.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,819 shares of company stock valued at $2,674,705. 5.59% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price objective for the company in a research report on Thursday, November 2nd. ValuEngine cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.67.

TRADEMARK VIOLATION NOTICE: “Kadant Inc. (KAI) Stake Decreased by Cadence Capital Management LLC” was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://theolympiareport.com/2018/02/12/kadant-inc-kai-stake-decreased-by-cadence-capital-management-llc.html.

About Kadant

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.

Want to see what other hedge funds are holding KAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kadant Inc. (NYSE:KAI).

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.