Brown Brothers Harriman & Co. Has $54.18 Million Position in Kadant Inc. (NYSE:KAI)

Brown Brothers Harriman & Co. cut its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,035 shares of the industrial products company's stock after selling 35,924 shares during the quarter. Brown Brothers Harriman & Co. owned about 1.34% of Kadant worth $54,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zhang Financial LLC raised its holdings in shares of Kadant by 0.8% in the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock worth $1,813,000 after purchasing an additional 40 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Kadant by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock valued at $1,483,000 after buying an additional 44 shares in the last quarter. Sheets Smith Wealth Management lifted its position in shares of Kadant by 3.2% during the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company's stock valued at $772,000 after acquiring an additional 69 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in shares of Kadant by 9.9% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company's stock worth $264,000 after acquiring an additional 69 shares in the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Kadant by 8.0% in the 3rd quarter. Townsquare Capital LLC now owns 941 shares of the industrial products company's stock worth $318,000 after acquiring an additional 70 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

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Kadant Trading Up 1.1 %

NYSE KAI traded up $3.70 on Wednesday, hitting $346.85. 28,869 shares of the stock were exchanged, compared to its average volume of 101,807. The company's 50-day moving average price is $365.35 and its two-hundred day moving average price is $360.74. 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 Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 36.59 and a beta of 1.25.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating 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%. Research analysts predict 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. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.39%. This is a positive change from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio (DPR) is 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reissued an "outperform" rating and issued a $410.00 price target on shares of Kadant in a research note 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.