Envestnet Asset Management Inc. Purchases 2,767 Shares of Kadant Inc. (NYSE:KAI)

Envestnet Asset Management Inc. lifted its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,970 shares of the industrial products company's stock after acquiring an additional 2,767 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.32% of Kadant worth $13,099,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KAI. Dudley & Shanley Inc. boosted its position in Kadant by 196.7% during the third 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 during the period. HighTower Advisors LLC boosted its holdings in shares of Kadant by 120.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock worth $546,000 after buying an additional 883 shares during the period. JPMorgan Chase & Co. grew its stake in Kadant by 60.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock valued at $21,876,000 after buying an additional 24,358 shares during the last quarter. Synovus Financial Corp bought a new position in Kadant in the 3rd quarter valued at about $585,000. Finally, KBC Group NV lifted its position in Kadant by 54.6% during the fourth quarter. KBC Group NV now owns 504 shares of the industrial products company's stock worth $174,000 after acquiring an additional 178 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Stock Performance

Shares of KAI stock traded up $8.86 on Tuesday, hitting $295.10. The company's stock had a trading volume of 192,127 shares, compared to its average volume of 106,839. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The stock's 50 day moving average is $344.95 and its 200-day moving average is $357.84. The company has a market capitalization of $3.48 billion, a PE ratio of 31.13 and a beta of 1.24.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Equities research analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.46%. 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 is presently 14.35%.

Analysts Set New Price Targets

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 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.