Kadant Inc. (NYSE:KAI) Position Boosted by Barclays PLC

Barclays PLC boosted its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,253 shares of the industrial products company's stock after purchasing an additional 2,459 shares during the quarter. Barclays PLC owned approximately 0.19% of Kadant worth $7,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. grew its stake in shares of Kadant by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,226 shares of the industrial products company's stock valued at $423,000 after buying an additional 59 shares during the period. Synovus Financial Corp grew its position in Kadant by 1.7% during the fourth quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company's stock valued at $608,000 after acquiring an additional 29 shares during the period. Petros Family Wealth LLC acquired a new stake in Kadant during the fourth quarter worth about $243,000. Argent Trust Co raised its holdings in shares of Kadant by 7.3% in the 4th quarter. Argent Trust Co now owns 1,284 shares of the industrial products company's stock worth $443,000 after purchasing an additional 87 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Kadant in the 4th quarter valued at about $39,400,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Stock Down 1.4 %

NYSE:KAI traded down $4.31 during mid-day trading on Friday, reaching $311.40. The stock had a trading volume of 100,771 shares, compared to its average volume of 107,865. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 32.85 and a beta of 1.24. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The stock's 50 day simple moving average is $340.03 and its two-hundred day simple moving average is $357.58.

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

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Wednesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.32. Kadant's payout ratio is 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an "outperform" rating and set a $410.00 price objective on shares of Kadant in a research note on Friday.

About Kadant

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.