Loomis Sayles & Co. L P Trims Stock Position in Kadant Inc. (NYSE:KAI)

Loomis Sayles & Co. L P cut its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,621 shares of the industrial products company's stock after selling 29,828 shares during the period. Loomis Sayles & Co. L P owned approximately 0.87% of Kadant worth $35,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zhang Financial LLC raised its holdings in Kadant by 0.8% in the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock valued at $1,813,000 after buying an additional 40 shares during the period. Franklin Resources Inc. raised its stake in shares of Kadant by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock valued at $1,483,000 after acquiring an additional 44 shares during the period. Sheets Smith Wealth Management lifted its holdings in shares of Kadant by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company's stock worth $772,000 after acquiring an additional 69 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its position in shares of Kadant by 9.9% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company's stock worth $264,000 after purchasing an additional 69 shares during the period. Finally, Townsquare Capital LLC increased its holdings in Kadant by 8.0% in the 3rd quarter. Townsquare Capital LLC now owns 941 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 70 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Kadant Stock Up 1.3 %

Shares of NYSE:KAI traded up $4.36 during trading on Tuesday, hitting $341.27. The company's stock had a trading volume of 22,069 shares, compared to its average volume of 101,582. The company has a market capitalization of $4.02 billion, a PE ratio of 36.00 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 Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The business has a 50 day moving average price of $366.01 and a two-hundred day moving average price of $360.60.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The company 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 dividend of $0.34 per share. This is a boost from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Wednesday, April 9th. Kadant's payout ratio is 14.35%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and set a $410.00 price target 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.