Xponance Inc. Acquires 78 Shares of Kadant Inc. (NYSE:KAI)

Xponance Inc. raised its holdings in shares of Kadant Inc. (NYSE:KAI) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 845 shares of the industrial products company’s stock after purchasing an additional 78 shares during the period. Xponance Inc.’s holdings in Kadant were worth $292,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Kadant during the 3rd quarter valued at approximately $806,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Kadant by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 121,241 shares of the industrial products company’s stock valued at $40,979,000 after acquiring an additional 2,141 shares in the last quarter. Citigroup Inc. raised its position in shares of Kadant by 223.1% in the 3rd quarter. Citigroup Inc. now owns 14,893 shares of the industrial products company’s stock worth $5,034,000 after purchasing an additional 10,283 shares during the last quarter. Cerity Partners LLC bought a new position in Kadant in the 3rd quarter worth about $538,000. Finally, FMR LLC grew its position in 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 purchasing an additional 1,629 shares during the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kadant Stock Up 1.9 %

KAI stock opened at $351.95 on Friday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 37.13 and a beta of 1.25. 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 Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The business has a fifty day moving average price of $367.22 and a 200-day moving average price of $359.47.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Equities analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal 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 given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, April 9th. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s payout ratio 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.