2,373 Shares in Kadant Inc. (NYSE:KAI) Purchased by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in Kadant Inc. (NYSE:KAI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,373 shares of the industrial products company's stock, valued at approximately $819,000.

Several other large investors have also modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kadant during the 4th quarter worth approximately $193,595,000. Vanguard Group Inc. lifted its stake in shares of Kadant by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after purchasing an additional 243,267 shares during the period. Norges Bank acquired a new position in Kadant during the fourth quarter worth about $46,529,000. Raymond James Financial Inc. acquired a new position in shares of Kadant during the 4th quarter worth $39,400,000. Finally, Conestoga Capital Advisors LLC acquired a new stake in Kadant during the fourth quarter worth approximately $38,560,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Kadant Stock Up 1.7 %

NYSE:KAI traded up $4.85 during mid-day trading on Tuesday, reaching $291.09. The stock had a trading volume of 20,961 shares, compared to its average volume of 105,966. The stock's 50 day simple moving average is $346.13 and its two-hundred day simple moving average is $358.28. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 30.72 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.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results 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 net margin of 10.59% and a return on equity of 14.66%. Equities analysts anticipate that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio is 14.35%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and set a $410.00 target price on shares of Kadant in a report 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.