Blair William & Co. IL reduced its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,393 shares of the industrial products company's stock after selling 10,767 shares during the period. Blair William & Co. IL owned about 0.11% of Kadant worth $4,275,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of KAI. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kadant by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,241 shares of the industrial products company's stock valued at $40,979,000 after buying an additional 2,141 shares during the period. Citigroup Inc. grew its holdings in shares of Kadant by 223.1% during the third quarter. Citigroup Inc. now owns 14,893 shares of the industrial products company's stock valued at $5,034,000 after purchasing an additional 10,283 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Kadant during the 3rd quarter worth approximately $538,000. FMR LLC lifted its holdings in shares of Kadant by 1.1% in the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock worth $48,788,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Kadant by 8.0% during the 3rd quarter. Townsquare Capital LLC now owns 941 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Barrington Research reissued an "outperform" rating and set a $410.00 price target on shares of Kadant in a report on Friday, February 14th.
Check Out Our Latest Research Report on KAI
Kadant Stock Performance
Shares of NYSE KAI traded down $13.82 during midday trading on Friday, hitting $304.54. 179,364 shares of the company's stock were exchanged, compared to its average volume of 102,698. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The firm has a market cap of $3.59 billion, a P/E ratio of 32.12 and a beta of 1.24. The stock's 50 day moving average price is $362.21 and its 200-day moving average price is $360.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.
Kadant (NYSE:KAI - Get Free Report) last released its quarterly 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 return on equity of 14.66% and a net margin of 10.59%. Equities research analysts anticipate that Kadant Inc. will post 9.97 EPS for the current year.
Kadant Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.45%. This is a boost from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. Kadant's payout ratio is presently 14.35%.
Kadant Company Profile
(
Free Report)
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.
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