2,054 Shares in Kadant Inc. (NYSE:KAI) Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new position in shares of Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,054 shares of the industrial products company's stock, valued at approximately $709,000.

A number of other large investors have also recently bought and sold shares of KAI. Vanguard Group Inc. boosted its holdings in shares of Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after buying an additional 243,267 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Kadant in the fourth quarter valued at $193,595,000. Norges Bank acquired a new stake in Kadant in the fourth quarter valued at $46,529,000. Charles Schwab Investment Management Inc. increased its stake in shares of Kadant by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock worth $41,980,000 after purchasing an additional 445 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Kadant during the 4th quarter worth about $39,400,000. Institutional investors and hedge funds own 96.13% of the company's stock.

Kadant Stock Performance

Kadant stock traded down $0.24 during trading hours on Thursday, hitting $294.76. The company had a trading volume of 162,176 shares, compared to its average volume of 166,312. The firm has a market cap of $3.47 billion, a PE ratio of 31.09 and a beta of 1.24. 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 one year low of $259.20 and a one year high of $429.95. The firm has a 50-day moving average of $335.22 and a 200 day moving average of $357.01.

Kadant (NYSE:KAI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.97 by $0.13. Kadant had a net margin of 10.59% and a return on equity of 14.66%. The company had revenue of $239.21 million for the quarter, compared to analysts' expectations of $239.41 million. During the same period last year, the firm earned $2.38 earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.46%. Kadant's dividend payout ratio (DPR) is currently 14.35%.

Analyst Ratings Changes

Separately, Barrington Research restated an "outperform" rating and set a $380.00 price objective on shares of Kadant in a research note on Thursday.

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.