AXA S.A. decreased its holdings in shares of Kadant Inc. (NYSE:KAI - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,972 shares of the industrial products company's stock after selling 2,731 shares during the quarter. AXA S.A. owned about 0.20% of Kadant worth $8,270,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Kadant by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock worth $420,292,000 after acquiring an additional 243,267 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kadant during the fourth quarter worth about $193,595,000. Northern Trust Corp boosted its position in Kadant by 5.5% during the 4th quarter. Northern Trust Corp now owns 154,466 shares of the industrial products company's stock worth $53,289,000 after acquiring an additional 8,030 shares during the last quarter. Norges Bank bought a new stake in Kadant during the 4th quarter worth about $46,529,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kadant by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company's stock valued at $41,980,000 after buying an additional 445 shares in the last quarter. 96.13% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Barrington Research reissued an "outperform" rating and set a $380.00 price target on shares of Kadant in a research report on Thursday, May 1st. DA Davidson reduced their target price on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st.
Read Our Latest Research Report on KAI
Kadant Stock Performance
Shares of KAI stock traded up $3.08 during midday trading on Friday, hitting $303.85. 221,369 shares of the company were exchanged, compared to its average volume of 109,521. Kadant Inc. has a 52 week low of $266.23 and a 52 week high of $429.95. The firm has a market capitalization of $3.58 billion, a P/E ratio of 32.05 and a beta of 1.30. The firm's 50 day moving average price is $324.33 and its two-hundred day moving average price is $355.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29.
Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (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 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 business posted $2.38 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current year.
Kadant Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th were paid a $0.34 dividend. This is an increase from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Wednesday, April 9th. Kadant's dividend payout ratio (DPR) is presently 14.44%.
Kadant Company Profile
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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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