Neuberger Berman Group LLC Has $257.54 Million Stake in Kadant Inc. (NYSE:KAI)

Neuberger Berman Group LLC reduced its stake in Kadant Inc. (NYSE:KAI - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 746,505 shares of the industrial products company's stock after selling 66,528 shares during the period. Neuberger Berman Group LLC owned about 6.36% of Kadant worth $257,537,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KAI. Captrust Financial Advisors bought a new stake in Kadant in the 3rd quarter worth approximately $644,000. Verition Fund Management LLC purchased a new stake in Kadant during the 3rd quarter valued at $317,000. HighTower Advisors LLC increased its stake in Kadant by 120.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock worth $546,000 after buying an additional 883 shares during the period. State Street Corp lifted its position in shares of Kadant by 2.3% in the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock worth $94,909,000 after purchasing an additional 6,412 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Kadant in the 3rd quarter worth approximately $444,000. Institutional investors own 96.13% of the company's stock.

Analysts Set New Price Targets

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

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Kadant Trading Down 0.2 %

Shares of NYSE KAI traded down $0.58 during midday trading on Tuesday, reaching $317.64. 29,128 shares of the stock were exchanged, compared to its average volume of 104,899. 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 company 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 stock has a 50 day moving average price of $352.17 and a 200-day moving average price of $359.12.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Equities research analysts expect that Kadant Inc. will post 9.97 earnings per share 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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.43%. This is a boost 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 presently 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.