Aquatic Capital Management LLC Takes Position in Kadant Inc. (NYSE:KAI)

Aquatic Capital Management LLC bought a new position in shares of Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,634 shares of the industrial products company's stock, valued at approximately $1,254,000.

Several other large investors have also recently bought and sold shares of KAI. Susquehanna Fundamental Investments LLC purchased a new position in shares of Kadant in the 4th quarter valued at about $3,564,000. Hancock Whitney Corp raised its holdings in Kadant by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 1,086 shares of the industrial products company's stock worth $375,000 after purchasing an additional 83 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Kadant by 123.3% during the 4th quarter. Hsbc Holdings PLC now owns 3,470 shares of the industrial products company's stock worth $1,206,000 after buying an additional 1,916 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Kadant in the 4th quarter valued at $709,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Kadant by 64.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 848 shares of the industrial products company's stock valued at $293,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Kadant Trading Up 0.6 %

KAI opened at $315.43 on Wednesday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 33.27 and a beta of 1.24. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The business's 50 day moving average is $336.96 and its two-hundred day moving average is $357.44. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 EPS for the quarter, beating 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%. During the same period in the prior year, the business posted $2.38 earnings per share. The business's revenue was down 3.9% compared to the same quarter last year. On average, research analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.43%. This is a positive change from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio (DPR) is currently 14.35%.

Analysts Set New Price Targets

Separately, Barrington Research restated an "outperform" rating and issued a $410.00 price objective on shares of Kadant in a research note on Friday, April 25th.

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.

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