Kadant Inc. (NYSE:KAI) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Kadant Inc. (NYSE:KAI) by 105.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,888 shares of the industrial products company’s stock after buying an additional 2,504 shares during the quarter. Intech Investment Management LLC’s holdings in Kadant were worth $1,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kadant in the fourth quarter worth approximately $193,595,000. State Street Corp grew its position in Kadant by 2.3% in the third quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock worth $94,909,000 after buying an additional 6,412 shares during the last quarter. FMR LLC grew its position in Kadant by 1.1% in the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after buying an additional 1,629 shares during the last quarter. Janus Henderson Group PLC grew its position in Kadant by 1.6% in the third quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock worth $44,036,000 after buying an additional 2,068 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in Kadant by 34.8% in the third 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 during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analyst Ratings Changes

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

Kadant Trading Down 2.4 %

Kadant stock opened at $333.16 on Friday. The company has a 50 day moving average price of $368.04 and a 200 day moving average price of $358.26. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.14 and a beta of 1.25.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Research analysts forecast that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.41%. This is a positive change from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is 14.35%.

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.