Raymond James Financial Inc. Acquires Shares of 114,207 Kadant Inc. (NYSE:KAI)

Raymond James Financial Inc. acquired a new position in shares of Kadant Inc. (NYSE:KAI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 114,207 shares of the industrial products company's stock, valued at approximately $39,400,000. Raymond James Financial Inc. owned 0.97% of Kadant at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant in the fourth quarter valued at approximately $193,595,000. Conestoga Capital Advisors LLC acquired a new position in Kadant in the fourth quarter valued at about $38,560,000. Erste Asset Management GmbH bought a new stake in Kadant during the third quarter worth about $11,345,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Kadant during the third quarter worth approximately $11,206,000. Finally, DF Dent & Co. Inc. increased its holdings in shares of Kadant by 64.1% during the third quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company's stock worth $28,109,000 after buying an additional 32,491 shares in the last quarter. Institutional investors own 96.13% of the company's stock.

Kadant Trading Up 2.8 %

Shares of NYSE KAI traded up $9.49 during midday trading on Friday, hitting $347.30. The stock had a trading volume of 52,599 shares, compared to its average volume of 174,824. The company's 50-day simple moving average is $368.53 and its 200 day simple moving average is $357.38. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The firm has a market cap of $4.08 billion, a P/E ratio of 36.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

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Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Research analysts anticipate that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be paid a $0.34 dividend. This is a boost from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.39%. Kadant's payout ratio is presently 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an "outperform" rating and issued a $410.00 price objective on shares of Kadant in a research report on Friday, February 14th.

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.