C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 561,162 Kadant Inc. (NYSE:KAI)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Kadant Inc. (NYSE:KAI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 561,162 shares of the industrial products company’s stock, valued at approximately $193,595,000. Kadant comprises about 6.9% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 2nd largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 4.78% of Kadant as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KAI. Ashton Thomas Securities LLC acquired a new position in Kadant during the third quarter valued at approximately $25,000. Hilltop National Bank purchased a new position in shares of Kadant in the 4th quarter valued at $26,000. Icon Wealth Advisors LLC acquired a new position in shares of Kadant during the 3rd quarter valued at $28,000. Westside Investment Management Inc. purchased a new stake in Kadant during the 3rd quarter worth $31,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Kadant in the 3rd quarter valued at $74,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Down 1.6 %

NYSE KAI opened at $358.35 on Thursday. The stock has a market cap of $4.21 billion, a P/E ratio of 36.68 and a beta of 1.29. The company’s fifty day simple moving average is $364.65 and its 200-day simple moving average is $348.70. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Equities research analysts predict that Kadant Inc. will post 10.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research boosted their price objective on Kadant from $360.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th.

Insider Buying and Selling

In other Kadant news, Director Rebecca Martinez O’mara sold 300 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the completion of the transaction, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. This trade represents a 18.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the sale, the director now owns 4,250 shares in the company, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,052 shares of company stock worth $416,655. 1.40% of the stock is currently owned by corporate insiders.

Kadant Profile

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.