Intech Investment Management LLC Increases Holdings in Kadant Inc. (NYSE:KAI)

Intech Investment Management LLC lifted its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 105.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,888 shares of the industrial products company's stock after acquiring an additional 2,504 shares during the period. Intech Investment Management LLC's holdings in Kadant were worth $1,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KAI. Hilltop National Bank bought a new stake in Kadant in the fourth quarter valued at $26,000. Icon Wealth Advisors LLC acquired a new position in Kadant during the 3rd quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in Kadant during the 3rd quarter worth approximately $31,000. Jones Financial Companies Lllp grew its stake in Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 75 shares during the period. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Kadant during the fourth quarter valued at approximately $85,000. 96.13% of the stock is owned by institutional investors.

Kadant Stock Down 0.3 %

NYSE KAI traded down $1.16 during trading hours on Wednesday, hitting $345.86. The company's stock had a trading volume of 69,140 shares, compared to its average volume of 97,672. The company has a market capitalization of $4.07 billion, a PE ratio of 36.48 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 52 week low of $249.51 and a 52 week high of $429.95. The company's 50-day simple moving average is $367.87 and its two-hundred day simple moving average is $359.62.

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

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be paid a $0.34 dividend. This is a positive change from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.39%. Kadant's dividend payout ratio is presently 14.35%.

Analyst Upgrades and Downgrades

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

About Kadant

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.