Kadant Inc. (NYSE:KAI) Stock Position Trimmed by Associated Banc Corp

Associated Banc Corp decreased its position in Kadant Inc. (NYSE:KAI) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 721 shares of the industrial products company’s stock after selling 110 shares during the period. Associated Banc Corp’s holdings in Kadant were worth $249,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in KAI. Zhang Financial LLC grew its position in Kadant by 0.8% in the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock valued at $1,813,000 after buying an additional 40 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Kadant by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after acquiring an additional 44 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock valued at $2,419,000 after acquiring an additional 48 shares during the period. Sheets Smith Wealth Management raised its holdings in Kadant by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company’s stock worth $772,000 after purchasing an additional 69 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its position in Kadant by 9.9% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Performance

NYSE:KAI opened at $352.23 on Monday. The company has a 50-day moving average of $368.35 and a 200-day moving average of $358.01. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 37.15 and a beta of 1.25. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95.

Kadant (NYSE:KAI) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business 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. 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 dividend on an annualized basis and a dividend yield of 0.39%. Kadant’s dividend payout ratio (DPR) is 14.35%.

Analyst Upgrades and Downgrades

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

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.