JPMorgan Chase & Co. Has $28.88 Million Holdings in Kadant Inc. (NYSE:KAI)

JPMorgan Chase & Co. raised its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,717 shares of the industrial products company's stock after acquiring an additional 18,995 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.71% of Kadant worth $28,882,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Kadant by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock worth $420,292,000 after acquiring an additional 243,267 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant during the fourth quarter worth $193,595,000. State Street Corp increased its stake 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 valued at $94,909,000 after buying an additional 6,412 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kadant by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock valued at $41,980,000 after buying an additional 445 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Kadant during the 4th quarter worth about $39,400,000. Institutional investors own 96.13% of the company's stock.

Kadant Trading Up 1.8 %

KAI traded up $5.62 during mid-day trading on Friday, reaching $317.72. The stock had a trading volume of 121,325 shares, compared to its average volume of 104,975. The firm's fifty day simple moving average is $353.20 and its two-hundred day simple moving average is $359.23. The stock has a market capitalization of $3.74 billion, a P/E ratio of 33.51 and a beta of 1.24. Kadant Inc. has a 52 week low of $249.51 and a 52 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.

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Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (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%. On average, equities analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.43%. 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 payout ratio is 14.35%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and issued a $410.00 price objective 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.