NewEdge Advisors LLC Has $622,000 Stock Holdings in Kadant Inc. (NYSE:KAI)

NewEdge Advisors LLC lowered its stake in Kadant Inc. (NYSE:KAI) by 20.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,804 shares of the industrial products company’s stock after selling 450 shares during the period. NewEdge Advisors LLC’s holdings in Kadant were worth $622,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in shares of Kadant in the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. acquired a new position in Kadant in the 3rd quarter valued at $31,000. Jones Financial Companies Lllp increased its position in Kadant by 267.9% during the 4th 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 during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Kadant during the fourth quarter worth $85,000. Finally, Avanza Fonder AB bought a new stake in shares of Kadant in the fourth quarter valued at about $160,000. 96.13% of the stock is owned by institutional investors.

Kadant Trading Down 1.4 %

Shares of KAI stock opened at $311.40 on Friday. The stock has a market cap of $3.67 billion, a P/E ratio of 32.85 and a beta of 1.24. Kadant Inc. has a 1 year low of $249.51 and a 1 year 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 stock has a 50 day simple moving average of $340.03 and a 200 day simple moving average of $357.58.

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

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be issued a $0.34 dividend. This is a positive change from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant’s dividend payout ratio (DPR) is currently 14.35%.

Analysts Set New Price Targets

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

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.