Kadant Inc. (NYSE:KAI) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its stake in shares of Kadant Inc. (NYSE:KAI) by 267.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103 shares of the industrial products company’s stock after purchasing an additional 75 shares during the quarter. Jones Financial Companies Lllp’s holdings in Kadant were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Kadant during the 4th quarter valued at approximately $193,595,000. State Street Corp increased its stake in shares of 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 acquiring an additional 6,412 shares during the period. FMR LLC increased its stake in shares of 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 acquiring an additional 1,629 shares during the period. Janus Henderson Group PLC increased its stake in shares of 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 acquiring an additional 2,068 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in shares of 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 acquiring an additional 31,675 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Down 3.0 %

KAI stock opened at $343.96 on Wednesday. The firm has a market cap of $4.04 billion, a PE ratio of 36.28 and a beta of 1.25. 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’s fifty day moving average is $368.32 and its 200 day moving average is $358.41. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95.

Kadant (NYSE:KAI) last released 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%. On average, research analysts forecast that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is currently 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and issued a $410.00 price objective on shares of Kadant in a research note 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.