Tudor Investment Corp ET AL Sells 10,465 Shares of Kadant Inc. (NYSE:KAI)

Tudor Investment Corp ET AL lessened its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 42.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,921 shares of the industrial products company's stock after selling 10,465 shares during the period. Tudor Investment Corp ET AL owned approximately 0.12% of Kadant worth $4,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KAI. Hilltop National Bank purchased a new stake in Kadant in the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. purchased a new stake in Kadant during the third quarter valued at about $31,000. Jones Financial Companies Lllp increased its position in shares of Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in Kadant in the 4th quarter worth approximately $85,000. Finally, Avanza Fonder AB purchased a new stake in Kadant in the fourth quarter worth approximately $160,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Kadant Trading Down 2.2 %

NYSE:KAI traded down $6.53 during midday trading on Monday, reaching $293.58. 140,153 shares of the stock traded hands, compared to its average volume of 108,074. The stock has a market capitalization of $3.46 billion, a P/E ratio of 30.97 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 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 fifty day moving average of $331.99 and a 200 day moving average of $356.89.

Kadant (NYSE:KAI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The company 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 business earned $2.38 EPS. Kadant's revenue was down 3.9% compared to the same quarter last year. On average, research analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business also recently announced 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 represents a $1.36 annualized dividend and a dividend yield of 0.46%. This is a boost from Kadant's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, April 9th. Kadant's dividend payout ratio (DPR) is currently 14.44%.

About Kadant

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.