10,332 Shares in Kadant Inc. (NYSE:KAI) Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new position in Kadant Inc. (NYSE:KAI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,332 shares of the industrial products company's stock, valued at approximately $3,564,000. Susquehanna Fundamental Investments LLC owned approximately 0.09% of Kadant as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synovus Financial Corp lifted its holdings in shares of Kadant by 1.7% in the 4th quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company's stock worth $608,000 after purchasing an additional 29 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Kadant by 3.2% during the fourth quarter. Bank of Montreal Can now owns 1,187 shares of the industrial products company's stock valued at $410,000 after acquiring an additional 37 shares during the period. Zhang Financial LLC grew its position in shares of Kadant by 0.8% during the fourth quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company's stock worth $1,813,000 after acquiring an additional 40 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Kadant by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company's stock worth $1,483,000 after acquiring an additional 44 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Kadant by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,226 shares of the industrial products company's stock valued at $423,000 after purchasing an additional 59 shares during the period. 96.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. DA Davidson reduced their price objective on Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday. Barrington Research reiterated an "outperform" rating and set a $380.00 price target on shares of Kadant in a research report on Thursday.

Kadant Price Performance

Kadant stock traded down $0.24 during trading hours on Thursday, hitting $294.76. 162,176 shares of the company traded hands, compared to its average volume of 108,284. Kadant Inc. has a 1-year low of $259.20 and a 1-year high of $429.95. The firm has a market cap of $3.47 billion, a P/E ratio of 31.09 and a beta of 1.24. The firm's 50-day simple moving average is $333.54 and its two-hundred day simple moving average is $356.78. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

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

Kadant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a $0.34 dividend. This is a positive change 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 dividend yield of 0.46%. Kadant's dividend payout ratio is 14.35%.

Kadant Company 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.