Bessemer Group Inc. Sells 1,301 Shares of Kadant Inc. (NYSE:KAI)

Bessemer Group Inc. cut its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 62.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792 shares of the industrial products company's stock after selling 1,301 shares during the period. Bessemer Group Inc.'s holdings in Kadant were worth $273,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KAI. Hilltop National Bank bought a new stake in shares of Kadant during the 4th quarter worth $26,000. Westside Investment Management Inc. acquired a new position in Kadant during the third quarter worth about $31,000. Jones Financial Companies Lllp lifted its holdings in shares of Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after acquiring an additional 75 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Kadant in the 4th quarter valued at approximately $85,000. Finally, Avanza Fonder AB bought a new stake in shares of Kadant during the 4th quarter valued at approximately $160,000. Institutional investors and hedge funds own 96.13% of the company's stock.

Kadant Trading Up 3.1 %

Shares of KAI stock traded up $8.86 during mid-day trading on Tuesday, hitting $295.10. The company's stock had a trading volume of 192,127 shares, compared to its average volume of 106,839. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The company's fifty day simple moving average is $344.95 and its 200-day simple moving average is $357.84. The company has a market cap of $3.48 billion, a PE ratio of 31.13 and a beta of 1.24.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently disclosed 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 represents a $1.36 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Wednesday, April 9th. This is an increase from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio is 14.35%.

Analysts Set New Price Targets

Separately, Barrington Research restated an "outperform" rating and issued a $410.00 target price 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.