IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.99 Million Stock Holdings in Kadant Inc. (NYSE:KAI)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in Kadant Inc. (NYSE:KAI) by 44.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,765 shares of the industrial products company’s stock after selling 4,572 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Kadant were worth $1,989,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC grew its stake in 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 during the period. Dudley & Shanley Inc. lifted its holdings in shares of Kadant by 196.7% during the 3rd quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock valued at $10,985,000 after purchasing an additional 21,545 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Kadant by 120.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 883 shares during the period. Synovus Financial Corp bought a new stake in Kadant during the 3rd quarter worth approximately $585,000. Finally, JPMorgan Chase & Co. raised its holdings in Kadant by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company’s stock worth $21,876,000 after buying an additional 24,358 shares during the period. Institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

Shares of Kadant stock opened at $345.86 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 36.48 and a beta of 1.25. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The stock’s 50-day moving average is $367.51 and its 200-day moving average is $359.53.

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

Kadant Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.39%. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is 14.35%.

Wall Street Analysts Forecast Growth

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

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.