Royce & Associates LP Sells 35,689 Shares of Kadant Inc. (NYSE:KAI)

Royce & Associates LP lessened its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,629 shares of the industrial products company's stock after selling 35,689 shares during the period. Kadant accounts for 0.7% of Royce & Associates LP's holdings, making the stock its 18th biggest position. Royce & Associates LP owned about 1.75% of Kadant worth $70,940,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KAI. Atria Investments Inc raised its holdings in Kadant by 4.7% in the 3rd quarter. Atria Investments Inc now owns 5,564 shares of the industrial products company's stock valued at $1,881,000 after acquiring an additional 252 shares during the period. Victory Capital Management Inc. boosted its position in shares of Kadant by 14.0% in the third quarter. Victory Capital Management Inc. now owns 3,476 shares of the industrial products company's stock valued at $1,175,000 after acquiring an additional 426 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kadant in the third quarter valued at about $5,847,000. Segall Bryant & Hamill LLC bought a new position in Kadant during the third quarter worth about $11,206,000. Finally, King Luther Capital Management Corp raised its stake in Kadant by 0.7% in the 3rd quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company's stock worth $2,419,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

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Wall Street Analyst Weigh In

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

Kadant Price Performance

KAI stock traded up $0.24 during mid-day trading on Thursday, hitting $341.60. The stock had a trading volume of 185,359 shares, compared to its average volume of 97,005. The firm has a fifty day simple moving average of $368.25 and a 200 day simple moving average of $358.29. The firm has a market capitalization of $4.02 billion, a P/E ratio of 36.03 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 52 week low of $249.51 and a 52 week high of $429.95.

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, research analysts forecast that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.32. Kadant's payout ratio 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.