Balyasny Asset Management L.P. Has $6.54 Million Stock Position in Kadant Inc. (NYSE:KAI)

Balyasny Asset Management L.P. lessened its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,944 shares of the industrial products company's stock after selling 12,884 shares during the period. Balyasny Asset Management L.P. owned about 0.16% of Kadant worth $6,535,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Synovus Financial Corp grew its position in shares of Kadant by 1.7% during the 4th quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company's stock valued at $608,000 after buying an additional 29 shares during the last quarter. Bank of Montreal Can grew its position in shares of Kadant by 3.2% during the 4th quarter. Bank of Montreal Can now owns 1,187 shares of the industrial products company's stock valued at $410,000 after buying an additional 37 shares during the last quarter. Zhang Financial LLC grew its position in shares of Kadant by 0.8% during the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock valued at $1,813,000 after buying an additional 40 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Kadant by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock valued at $1,483,000 after buying an additional 44 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Kadant by 5.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,226 shares of the industrial products company's stock worth $423,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 96.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on KAI shares. DA Davidson decreased their target price on shares of 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 restated an "outperform" rating and issued a $380.00 target price on shares of Kadant in a research report on Thursday, May 1st.

Kadant Trading Up 2.6%

Shares of NYSE:KAI traded up $8.43 during mid-day trading on Tuesday, hitting $328.65. The stock had a trading volume of 164,164 shares, compared to its average volume of 110,122. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The company has a market cap of $3.87 billion, a PE ratio of 34.67 and a beta of 1.30. Kadant Inc. has a 12-month low of $266.23 and a 12-month high of $429.95. The company's 50 day moving average is $323.36 and its 200-day moving average is $356.04.

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

Kadant Increases Dividend

The firm also recently declared 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 positive change from Kadant's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.41%. Kadant's dividend payout ratio is 14.44%.

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.