Kadant Inc. (NYSE:KAI) Position Reduced by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC decreased its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,115 shares of the industrial products company's stock after selling 2,288 shares during the period. ArrowMark Colorado Holdings LLC owned 0.10% of Kadant worth $4,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in Kadant during the 4th quarter worth $26,000. Jones Financial Companies Lllp grew its position in Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after buying an additional 75 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Kadant in the 4th quarter worth approximately $85,000. Avanza Fonder AB purchased a new position in Kadant in the 4th quarter valued at approximately $160,000. Finally, KBC Group NV raised its holdings in Kadant by 54.6% during the fourth quarter. KBC Group NV now owns 504 shares of the industrial products company's stock worth $174,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Kadant Trading Up 0.8 %

KAI traded up $2.50 during midday trading on Friday, hitting $303.27. The company's stock had a trading volume of 55,927 shares, compared to its average volume of 108,303. Kadant Inc. has a 52-week low of $266.23 and a 52-week high of $429.95. The firm has a 50-day moving average price of $325.46 and a two-hundred day moving average price of $355.57. The firm has a market cap of $3.57 billion, a P/E ratio of 31.99 and a beta of 1.30. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (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%. The company had revenue of $239.21 million during the quarter, compared to analysts' expectations of $239.41 million. During the same period in the previous year, the company earned $2.38 EPS. The business's quarterly revenue was down 3.9% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th were paid a dividend of $0.34 per share. 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 0.45%. The ex-dividend date of this dividend was Wednesday, April 9th. Kadant's dividend payout ratio is 14.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DA Davidson dropped their price target on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barrington Research reissued an "outperform" rating and set a $380.00 price objective on shares of Kadant in a research note on Thursday, May 1st.

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.