Edgestream Partners L.P. Takes Position in Kadant Inc. (NYSE:KAI)

Edgestream Partners L.P. bought a new stake in Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,914 shares of the industrial products company's stock, valued at approximately $2,040,000. Edgestream Partners L.P. owned about 0.05% of Kadant as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Zhang Financial LLC raised its stake in shares of Kadant by 0.8% during the fourth 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 during the last quarter. Franklin Resources Inc. lifted its stake in shares of Kadant by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock worth $1,483,000 after acquiring an additional 44 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Kadant by 0.7% in the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company's stock valued at $2,419,000 after acquiring an additional 48 shares in the last quarter. Associated Banc Corp increased its stake in shares of Kadant by 7.5% during the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company's stock worth $281,000 after acquiring an additional 58 shares during the period. Finally, Sheets Smith Wealth Management raised its holdings in Kadant by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company's stock worth $772,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Remove Ads

Kadant Trading Down 1.9 %

Shares of Kadant stock traded down $6.70 during mid-day trading on Thursday, hitting $338.04. 135,050 shares of the stock were exchanged, compared to its average volume of 177,391. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 35.66 and a beta of 1.25. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. The company has a 50-day simple moving average of $368.53 and a 200 day simple moving average of $357.38.

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

Kadant Increases Dividend

The firm also recently disclosed 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 yield of 0.40%. This is a positive change 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 is 14.35%.

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 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.