Geode Capital Management LLC Lowers Stock Holdings in Kadant Inc. (NYSE:KAI)

Geode Capital Management LLC lowered its position in Kadant Inc. (NYSE:KAI - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,967 shares of the industrial products company's stock after selling 1,019 shares during the period. Geode Capital Management LLC owned about 2.27% of Kadant worth $91,778,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after buying an additional 243,267 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Kadant during the fourth quarter valued at approximately $193,595,000. State Street Corp lifted its holdings in Kadant by 2.3% during the third quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock worth $94,909,000 after acquiring an additional 6,412 shares during the period. Norges Bank purchased a new position in Kadant in the fourth quarter worth $46,529,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Kadant by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock valued at $41,980,000 after purchasing an additional 445 shares during the period. 96.13% of the stock is owned by institutional investors.

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.

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Kadant Stock Performance

Shares of KAI stock traded down $1.49 during trading hours on Tuesday, hitting $316.73. 37,978 shares of the company were exchanged, compared to its average volume of 104,944. 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 stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.41 and a beta of 1.24. The firm has a fifty day simple moving average of $352.17 and a 200 day simple moving average of $359.12. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last released 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 return on equity of 14.66% and a net margin of 10.59%. Research analysts predict 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. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.43%. 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.