Sei Investments Co. Has $33.16 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Sei Investments Co. reduced its position in shares of Kadant Inc. (NYSE:KAI) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,104 shares of the industrial products company’s stock after selling 2,429 shares during the period. Sei Investments Co.’s holdings in Kadant were worth $33,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in shares of Kadant during the fourth quarter worth approximately $26,000. Icon Wealth Advisors LLC acquired a new position in Kadant during the third quarter worth $28,000. Westside Investment Management Inc. bought a new position in shares of Kadant in the third quarter valued at $31,000. Jones Financial Companies Lllp grew its holdings in shares of Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after buying an additional 75 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Kadant during the fourth quarter worth about $85,000. Institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Kadant in a research report on Friday, February 14th.

Kadant Trading Up 0.5 %

Shares of Kadant stock opened at $347.24 on Wednesday. The company has a market capitalization of $4.08 billion, a P/E ratio of 36.63 and a beta of 1.25. The stock has a fifty day simple moving average of $367.87 and a 200 day simple moving average of $359.62. Kadant Inc. has a 12-month low of $249.51 and a 12-month 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.

Kadant (NYSE:KAI) last posted its 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%. On average, sell-side analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.39%. This is a boost from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is currently 14.35%.

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.