Cibc World Markets Corp Takes Position in Kadant Inc. (NYSE:KAI)

Cibc World Markets Corp bought a new stake in shares of Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,096 shares of the industrial products company's stock, valued at approximately $378,000.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Kadant by 14.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,476 shares of the industrial products company's stock valued at $1,175,000 after buying an additional 426 shares during the last quarter. Intech Investment Management LLC purchased a new position in Kadant during the third quarter valued at approximately $806,000. Landscape Capital Management L.L.C. acquired a new position in Kadant in the third quarter valued at approximately $206,000. Charles Schwab Investment Management Inc. boosted its position in 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 worth $40,979,000 after purchasing an additional 2,141 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Kadant by 223.1% during the 3rd quarter. Citigroup Inc. now owns 14,893 shares of the industrial products company's stock worth $5,034,000 after purchasing an additional 10,283 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Price Performance

NYSE KAI traded up $6.43 during trading hours on Thursday, reaching $351.95. The company's stock had a trading volume of 228,141 shares, compared to its average volume of 98,155. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 37.13 and a beta of 1.25. The company's 50-day moving average is $367.51 and its two-hundred day moving average is $359.53. 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 1-year low of $249.51 and a 1-year high of $429.95.

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Kadant (NYSE:KAI - Get Free Report) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share 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%. On average, equities analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.39%. This is an increase from Kadant's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant's dividend payout ratio (DPR) is presently 14.35%.

Wall Street Analysts Forecast Growth

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.

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.