Wells Fargo & Company MN Has $44.26 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Wells Fargo & Company MN lessened its holdings in Kadant Inc. (NYSE:KAI - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,282 shares of the industrial products company's stock after selling 6,692 shares during the period. Wells Fargo & Company MN owned approximately 1.09% of Kadant worth $44,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Kadant in the 3rd quarter worth approximately $644,000. Verition Fund Management LLC acquired a new position in Kadant during the third quarter worth $317,000. HighTower Advisors LLC lifted its holdings in shares of Kadant by 120.1% during the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock valued at $546,000 after acquiring an additional 883 shares during the period. State Street Corp boosted its stake in shares of 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 purchasing an additional 6,412 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Kadant in the 3rd quarter worth about $444,000. Institutional investors own 96.13% of the company's stock.

Kadant Price Performance

Shares of KAI stock traded up $2.09 during trading hours on Tuesday, hitting $320.31. 13,467 shares of the company's stock were exchanged, compared to its average volume of 104,831. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 33.79 and a beta of 1.24. 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's 50-day moving average is $352.17 and its 200-day moving average is $359.12.

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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 (EPS) for the quarter, topping 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 company 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 of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.42%. Kadant's dividend payout ratio is currently 14.35%.

Wall Street Analyst Weigh In

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

Kadant 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.