Vanguard Group Inc. lifted its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 25.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,218,273 shares of the industrial products company's stock after purchasing an additional 243,267 shares during the quarter. Vanguard Group Inc. owned 10.38% of Kadant worth $420,292,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC grew its stake in shares of Kadant by 18.3% during the fourth quarter. LPL Financial LLC now owns 1,557 shares of the industrial products company's stock worth $537,000 after buying an additional 241 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Kadant during the 4th quarter valued at $828,000. Quantbot Technologies LP grew its position in Kadant by 3,773.6% during the 4th quarter. Quantbot Technologies LP now owns 5,733 shares of the industrial products company's stock worth $1,978,000 after acquiring an additional 5,585 shares during the last quarter. Xponance Inc. increased its holdings in Kadant by 10.2% in the 4th quarter. Xponance Inc. now owns 845 shares of the industrial products company's stock worth $292,000 after purchasing an additional 78 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Kadant by 105.0% in the fourth quarter. Intech Investment Management LLC now owns 4,888 shares of the industrial products company's stock valued at $1,686,000 after purchasing an additional 2,504 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Barrington Research reiterated an "outperform" rating and set a $410.00 price target on shares of Kadant in a report on Friday, February 14th.
View Our Latest Research Report on Kadant
Kadant Stock Down 2.3 %
KAI traded down $7.02 during midday trading on Monday, hitting $298.64. The company had a trading volume of 270,464 shares, compared to its average volume of 103,366. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 31.50 and a beta of 1.24. The stock's 50 day moving average price is $360.59 and its 200 day moving average price is $360.38. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.
Kadant (NYSE:KAI - Get Free Report) last released 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 return on equity of 14.66% and a net margin of 10.59%. On average, research analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.
Kadant Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This is an increase from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.46%. Kadant's dividend payout ratio is presently 14.35%.
Kadant Profile
(
Free Report)
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.
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