Principal Financial Group Inc. Has $2.46 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Principal Financial Group Inc. grew its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,132 shares of the industrial products company's stock after buying an additional 828 shares during the period. Principal Financial Group Inc. owned 0.06% of Kadant worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant during the 4th quarter worth about $193,595,000. State Street Corp raised its position in shares of Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock worth $94,909,000 after buying an additional 6,412 shares in the last quarter. FMR LLC raised its position in shares of Kadant by 1.1% during the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock worth $48,788,000 after buying an additional 1,629 shares in the last quarter. Janus Henderson Group PLC raised its position 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 worth $44,036,000 after buying an additional 2,068 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company's stock worth $41,447,000 after acquiring an additional 31,675 shares in the last quarter. Institutional investors own 96.13% of the company's stock.

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Kadant Trading Up 0.5 %

Shares of Kadant stock traded up $1.81 on Friday, reaching $376.13. 153,198 shares of the company were exchanged, compared to its average volume of 177,002. The stock has a fifty day moving average price of $367.75 and a 200-day moving average price of $356.47. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 39.68 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 fifty-two week low of $249.51 and a fifty-two week high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last announced its earnings results 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, analysts expect that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, April 9th. This is a positive change from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.36%. Kadant's payout ratio is 13.50%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and issued a $410.00 price target on shares of Kadant in a research report 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.