Hsbc Holdings PLC Buys 1,916 Shares of Kadant Inc. (NYSE:KAI)

Hsbc Holdings PLC boosted its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 123.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,470 shares of the industrial products company's stock after purchasing an additional 1,916 shares during the quarter. Hsbc Holdings PLC's holdings in Kadant were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank purchased a new position in shares of Kadant in the fourth quarter worth $26,000. Jones Financial Companies Lllp raised its position in Kadant by 267.9% in the 4th 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 last quarter. Washington Trust Advisors Inc. bought a new position in Kadant during the 4th quarter valued at about $85,000. Avanza Fonder AB bought a new stake in shares of Kadant in the fourth quarter worth approximately $160,000. Finally, KBC Group NV raised its holdings in shares of Kadant by 54.6% during the fourth quarter. KBC Group NV now owns 504 shares of the industrial products company's stock valued at $174,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 96.13% of the company's stock.

Kadant Stock Performance

Kadant stock traded up $2.61 during trading on Thursday, reaching $293.26. The company had a trading volume of 15,891 shares, compared to its average volume of 107,911. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The firm's 50-day simple moving average is $326.88 and its 200 day simple moving average is $355.73. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 30.93 and a beta of 1.30. Kadant Inc. has a 52 week low of $266.23 and a 52 week high of $429.95.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share 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 business had revenue of $239.21 million for the quarter, compared to the consensus estimate of $239.41 million. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, April 9th. This is an increase from Kadant's previous quarterly dividend of $0.32. Kadant's dividend payout ratio is 14.44%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KAI shares. Barrington Research reiterated an "outperform" rating and set a $380.00 target price on shares of Kadant in a research note on Thursday, May 1st. DA Davidson lowered their price objective on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st.

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.