Kadant Inc. (NYSE:KAI) Shares Sold by DF Dent & Co. Inc.

DF Dent & Co. Inc. trimmed its stake in Kadant Inc. (NYSE:KAI - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,612 shares of the industrial products company's stock after selling 33,551 shares during the quarter. DF Dent & Co. Inc. owned about 0.42% of Kadant worth $17,116,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its position in Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock valued at $48,788,000 after acquiring an additional 1,629 shares during the period. Dudley & Shanley Inc. increased its position in Kadant by 196.7% during the 3rd quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company's stock worth $10,985,000 after purchasing an additional 21,545 shares in the last quarter. HighTower Advisors LLC lifted its position in Kadant by 120.1% during the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock valued at $546,000 after buying an additional 883 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Kadant by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock worth $21,876,000 after buying an additional 24,358 shares during the period. Finally, Synovus Financial Corp purchased a new position in shares of Kadant in the 3rd quarter valued at $585,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Kadant Stock Up 1.4 %

Shares of Kadant stock traded up $4.31 during trading hours on Tuesday, hitting $304.24. 29,760 shares of the company's stock traded hands, compared to its average volume of 103,088. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The company has a market cap of $3.58 billion, a PE ratio of 32.10 and a beta of 1.24. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $360.59 and a 200-day simple moving average of $360.38.

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Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings data 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 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company 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 dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.45%. This is a boost from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio is presently 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an "outperform" rating and issued 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.