Axa S.A. reduced its position in Kadant Inc. (NYSE:KAI - Free Report) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,972 shares of the industrial products company's stock after selling 2,731 shares during the period. Axa S.A. owned 0.20% of Kadant worth $8,270,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in KAI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Kadant in the fourth quarter worth about $193,595,000. Vanguard Group Inc. raised its stake in shares of Kadant by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock worth $420,292,000 after buying an additional 243,267 shares during the last quarter. Norges Bank acquired a new stake in Kadant during the 4th quarter worth $46,529,000. Raymond James Financial Inc. bought a new position in shares of Kadant in the 4th quarter worth $39,400,000. Finally, Conestoga Capital Advisors LLC bought a new position in Kadant during the fourth quarter worth about $38,560,000. Institutional investors own 96.13% of the company's stock.
Kadant Price Performance
KAI stock opened at $293.58 on Tuesday. The stock has a market cap of $3.46 billion, a PE ratio of 30.97 and a beta of 1.30. The stock has a 50-day moving average price of $330.24 and a two-hundred day moving average price of $356.65. Kadant Inc. has a 1 year low of $266.23 and a 1 year high of $429.95. 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 earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $239.41 million. During the same quarter last year, the firm earned $2.38 EPS. Kadant's revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts forecast that Kadant Inc. will post 9.97 EPS for the current fiscal year.
Kadant Increases Dividend
The firm also recently announced 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. This is a boost from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.46%. Kadant's dividend payout ratio is presently 14.44%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on KAI. 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. DA Davidson dropped their target price on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st.
Check Out Our Latest Analysis on Kadant
Kadant Company Profile
(
Free Report)
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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