M&T Bank Corp Has $808,000 Stock Position in Kadant Inc. (NYSE:KAI)

M&T Bank Corp reduced its position in Kadant Inc. (NYSE:KAI) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,343 shares of the industrial products company’s stock after selling 133 shares during the period. M&T Bank Corp’s holdings in Kadant were worth $808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Kadant in the 4th quarter valued at $193,595,000. State Street Corp increased its stake in shares of Kadant by 2.3% in the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after buying an additional 6,412 shares during the period. FMR LLC increased its stake in shares of Kadant by 1.1% in the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after buying an additional 1,629 shares during the period. Janus Henderson Group PLC increased its stake in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after buying an additional 2,068 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in shares of Kadant by 34.8% during the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock worth $41,447,000 after purchasing an additional 31,675 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

Kadant Stock Down 3.5 %

Shares of Kadant stock opened at $358.13 on Wednesday. The business has a fifty day simple moving average of $368.53 and a 200 day simple moving average of $357.47. 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 stock has a market cap of $4.21 billion, a PE ratio of 37.78 and a beta of 1.25. Kadant Inc. has a 12 month low of $249.51 and a 12 month high of $429.95.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping 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%. Research analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The firm 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 dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. 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 0.38%. Kadant’s payout ratio is currently 14.35%.

Analyst Ratings Changes

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