Schroder Investment Management Group Makes New $631,000 Investment in Kadant Inc. (NYSE:KAI)

Schroder Investment Management Group purchased a new position in shares of Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,827 shares of the industrial products company's stock, valued at approximately $631,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after acquiring an additional 243,267 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Kadant during the fourth quarter worth $193,595,000. State Street Corp increased its holdings in Kadant by 2.3% in the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock valued at $94,909,000 after buying an additional 6,412 shares during the period. Norges Bank acquired a new stake in shares of Kadant during the 4th quarter valued at about $46,529,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Kadant by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock valued at $41,980,000 after acquiring an additional 445 shares during the period. 96.13% of the stock is owned by institutional investors.

Kadant Price Performance

Shares of NYSE:KAI traded up $5.62 during trading on Friday, reaching $317.72. The stock had a trading volume of 121,325 shares, compared to its average volume of 104,806. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The stock has a market capitalization of $3.74 billion, a PE ratio of 33.51 and a beta of 1.24. The business's 50-day moving average price is $353.20 and its 200 day moving average price is $359.06. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95.

Remove Ads

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings data 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, equities analysts predict that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a $0.34 dividend. 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 yield of 0.43%. Kadant's dividend payout ratio is presently 14.35%.

Wall Street Analyst Weigh In

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

About Kadant

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.