IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 4,572 Shares of Kadant Inc. (NYSE:KAI)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its position in Kadant Inc. (NYSE:KAI - Free Report) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,765 shares of the industrial products company's stock after selling 4,572 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Kadant were worth $1,989,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of KAI. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kadant in the fourth quarter valued at about $193,595,000. State Street Corp increased its holdings in shares of Kadant by 2.3% in 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 in the last quarter. FMR LLC raised its position in shares of Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock worth $48,788,000 after purchasing an additional 1,629 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Kadant by 1.6% during the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company's stock valued at $44,036,000 after purchasing an additional 2,068 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, Barrington Research reissued an "outperform" rating and set a $410.00 target price on shares of Kadant in a research note on Friday, February 14th.

Kadant Stock Up 0.7 %

NYSE KAI traded up $2.25 on Monday, reaching $338.20. The company had a trading volume of 19,772 shares, compared to its average volume of 101,470. The company's fifty day moving average is $366.61 and its 200-day moving average is $360.44. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 35.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29.

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 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%. On average, research analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from Kadant's previous quarterly dividend of $0.32. Kadant's 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.