Resona Asset Management Co. Ltd. Purchases New Stake in Kadant Inc. (NYSE:KAI)

Resona Asset Management Co. Ltd. bought a new stake in Kadant Inc. (NYSE:KAI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,559 shares of the industrial products company's stock, valued at approximately $542,000.

A number of other large investors also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in Kadant in the 4th quarter valued at $26,000. Westside Investment Management Inc. bought a new stake in shares of Kadant in the third quarter valued at about $31,000. Jones Financial Companies Lllp increased its position in Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after acquiring an additional 75 shares during the period. Washington Trust Advisors Inc. acquired a new stake in Kadant in the 4th quarter worth about $85,000. Finally, Avanza Fonder AB bought a new stake in Kadant in the 4th quarter valued at about $160,000. Institutional investors own 96.13% of the company's stock.

Wall Street Analyst Weigh In

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

Kadant Price Performance

Shares of NYSE:KAI traded down $2.07 during midday trading on Tuesday, hitting $316.15. The stock had a trading volume of 44,006 shares, compared to its average volume of 104,962. The company's 50-day moving average price is $352.17 and its 200-day moving average price is $359.12. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.72 billion, a P/E ratio of 33.35 and a beta of 1.24.

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Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities research analysts predict 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. The ex-dividend date is Wednesday, April 9th. This is an increase from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.43%. Kadant's dividend payout ratio (DPR) is currently 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.