Kadant Inc. (NYSE:KAI) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in Kadant Inc. (NYSE:KAI - Free Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,104 shares of the industrial products company's stock after selling 2,429 shares during the quarter. Sei Investments Co. owned about 0.82% of Kadant worth $33,155,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Kadant during the fourth quarter valued at about $193,595,000. Raymond James Financial Inc. purchased a new stake in shares of Kadant during the fourth quarter valued at about $39,400,000. Conestoga Capital Advisors LLC bought a new stake in shares of Kadant in the 4th quarter valued at about $38,560,000. Erste Asset Management GmbH purchased a new position in shares of Kadant in the 3rd quarter worth approximately $11,345,000. Finally, DF Dent & Co. Inc. grew its position in shares of Kadant by 64.1% in the 3rd quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company's stock worth $28,109,000 after buying an additional 32,491 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Kadant Stock Down 4.1 %

KAI stock traded down $14.48 on Friday, hitting $336.72. 152,791 shares of the company's stock were exchanged, compared to its average volume of 101,788. The firm has a 50 day moving average price of $366.61 and a two-hundred day moving average price of $360.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $429.95. The stock has a market cap of $3.96 billion, a P/E ratio of 35.52 and a beta of 1.25.

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Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share 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%. As a group, equities research analysts expect that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.40%. This is a boost from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio (DPR) is currently 14.35%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and issued a $410.00 target price 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.