Callan Family Office LLC Purchases 1,533 Shares of Kadant Inc. (NYSE:KAI)

Callan Family Office LLC grew its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 252.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,140 shares of the industrial products company's stock after acquiring an additional 1,533 shares during the period. Callan Family Office LLC's holdings in Kadant were worth $738,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KAI. Ashton Thomas Securities LLC purchased a new stake in Kadant in the 3rd quarter valued at about $25,000. Hilltop National Bank bought a new position in shares of Kadant in the fourth quarter valued at approximately $26,000. Icon Wealth Advisors LLC bought a new stake in Kadant during the third quarter worth $28,000. Westside Investment Management Inc. purchased a new position in Kadant in the third quarter worth $31,000. Finally, Jones Financial Companies Lllp grew its stake in Kadant by 267.9% in the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 75 shares during the period. Institutional investors own 96.13% of the company's stock.

Analyst Upgrades and Downgrades

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

Kadant Stock Performance

Shares of NYSE:KAI traded down $12.81 during mid-day trading on Wednesday, reaching $344.81. The company had a trading volume of 188,592 shares, compared to its average volume of 177,590. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The company's 50-day moving average price is $368.53 and its 200-day moving average price is $357.47. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 36.37 and a beta of 1.25.

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Kadant (NYSE:KAI - Get Free Report) last issued 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%. As a group, equities research analysts anticipate that Kadant Inc. will post 9.97 EPS for the current fiscal 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 given a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.39%. This is an increase from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio is currently 14.35%.

Kadant Company 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.