Kadant Inc. (NYSE:KAI) Stake Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Kadant Inc. (NYSE:KAI) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,686 shares of the industrial products company’s stock after acquiring an additional 445 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.04% of Kadant worth $41,980,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Kadant during the fourth quarter valued at $193,595,000. State Street Corp raised its stake in shares of Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock worth $94,909,000 after purchasing an additional 6,412 shares in the last quarter. FMR LLC lifted its holdings in shares of Kadant by 1.1% during the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after buying an additional 1,629 shares during the last quarter. Janus Henderson Group PLC grew 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 buying an additional 2,068 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its holdings 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. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Price Performance

Shares of NYSE:KAI opened at $352.23 on Friday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 37.15 and a beta of 1.25. The business has a 50-day moving average of $368.35 and a two-hundred day moving average of $357.73. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. 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) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping 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, equities research analysts predict that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.39%. 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 (DPR) is 14.35%.

Analyst Upgrades and Downgrades

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