Edgestream Partners L.P. Acquires New Holdings in Kadant Inc. (NYSE:KAI)

Edgestream Partners L.P. acquired a new stake in shares of Kadant Inc. (NYSE:KAI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,914 shares of the industrial products company’s stock, valued at approximately $2,040,000. Edgestream Partners L.P. owned 0.05% of Kadant as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant in the fourth quarter worth $193,595,000. State Street Corp raised its position in shares of Kadant by 2.3% in the third quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after purchasing an additional 6,412 shares during the period. FMR LLC grew its stake in shares of Kadant by 1.1% in the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after acquiring an additional 1,629 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Kadant by 1.6% in the third quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after acquiring an additional 2,068 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock valued at $41,447,000 after acquiring an additional 31,675 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Performance

Shares of KAI stock opened at $376.13 on Monday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 39.68 and a beta of 1.25. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $367.75 and a 200-day moving average of $356.77.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, equities analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.36%. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is presently 13.50%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and set a $410.00 price objective on shares of Kadant in a research note on Friday, February 14th.

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.