Versor Investments LP Buys New Position in Kadant Inc. (NYSE:KAI)

Versor Investments LP purchased a new stake in Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 900 shares of the industrial products company's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kadant in the 4th quarter valued at about $193,595,000. State Street Corp raised its position in Kadant by 2.3% during the third quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock valued at $94,909,000 after purchasing an additional 6,412 shares in the last quarter. FMR LLC lifted its stake in Kadant by 1.1% during the third quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock worth $48,788,000 after purchasing an additional 1,629 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company's stock valued at $44,036,000 after purchasing an additional 2,068 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in shares of Kadant by 34.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company's stock worth $41,447,000 after buying an additional 31,675 shares in the last quarter. Institutional investors own 96.13% of the company's stock.

Kadant Price Performance

NYSE:KAI traded up $1.81 on Friday, hitting $376.13. The company had a trading volume of 153,198 shares, compared to its average volume of 177,002. The firm has a 50 day moving average of $366.89 and a two-hundred day moving average of $355.50. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 39.68 and a beta of 1.25. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37.

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Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share 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 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 given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from Kadant's previous quarterly dividend of $0.32. Kadant's payout ratio is 13.50%.

Wall Street Analysts Forecast Growth

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

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.