Tudor Investment Corp ET AL Cuts Stock Position in Kadant Inc. (NYSE:KAI)

Tudor Investment Corp ET AL trimmed its position in shares of Kadant Inc. (NYSE:KAI - Free Report) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,921 shares of the industrial products company's stock after selling 10,465 shares during the quarter. Tudor Investment Corp ET AL owned about 0.12% of Kadant worth $4,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KAI. Hilltop National Bank purchased a new position in shares of Kadant in the fourth quarter worth $26,000. Westside Investment Management Inc. acquired a new position in shares of Kadant in the 3rd quarter valued at $31,000. Jones Financial Companies Lllp boosted its holdings in Kadant by 267.9% during the fourth 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 in the last quarter. Washington Trust Advisors Inc. acquired a new stake in Kadant during the fourth quarter valued at $85,000. Finally, Avanza Fonder AB acquired a new position in shares of Kadant in the fourth quarter worth about $160,000. 96.13% of the stock is currently owned by institutional investors.

Kadant Price Performance

KAI stock traded up $2.50 during midday trading on Wednesday, reaching $290.90. The stock had a trading volume of 13,012 shares, compared to its average volume of 107,795. Kadant Inc. has a 52-week low of $266.23 and a 52-week high of $429.95. 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 company's fifty day simple moving average is $328.55 and its 200 day simple moving average is $356.18. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 30.62 and a beta of 1.30.

Kadant (NYSE:KAI - Get Free Report) last posted 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 business had revenue of $239.21 million during the quarter, compared to analyst estimates of $239.41 million. During the same period in the prior year, the business earned $2.38 earnings per share. The business's revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.47%. Kadant's dividend payout ratio is currently 14.44%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KAI. Barrington Research restated an "outperform" rating and issued a $380.00 price objective on shares of Kadant in a research report on Thursday, May 1st. DA Davidson cut their price target on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday, May 1st.

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.