Dark Forest Capital Management LP Has $2.84 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

Dark Forest Capital Management LP cut its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,230 shares of the industrial products company's stock after selling 4,639 shares during the period. Dark Forest Capital Management LP owned 0.07% of Kadant worth $2,839,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Kadant in the 4th quarter worth approximately $193,595,000. Vanguard Group Inc. raised its position in shares of Kadant by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock valued at $420,292,000 after purchasing an additional 243,267 shares during the period. Norges Bank acquired a new stake in shares of Kadant in the fourth quarter worth $46,529,000. Raymond James Financial Inc. bought a new stake in shares of Kadant during the 4th quarter worth $39,400,000. Finally, Conestoga Capital Advisors LLC acquired a new position in Kadant in the 4th quarter valued at $38,560,000. Institutional investors own 96.13% of the company's stock.

Kadant Price Performance

Kadant stock traded down $1.40 during trading hours on Monday, hitting $309.74. 53,804 shares of the stock were exchanged, compared to its average volume of 163,620. The business's 50-day moving average is $340.03 and its two-hundred day moving average is $357.84. 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 Inc. has a 12 month low of $249.51 and a 12 month high of $429.95. The stock has a market capitalization of $3.65 billion, a P/E ratio of 32.67 and a beta of 1.24.

Kadant (NYSE:KAI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Equities research analysts expect that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a $0.34 dividend. This is a positive change from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant's dividend payout ratio (DPR) is currently 14.35%.

Analyst Ratings Changes

Separately, Barrington Research restated an "outperform" rating and set a $410.00 price target on shares of Kadant in a research note on Friday.

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.