114,207 Shares in Kadant Inc. (NYSE:KAI) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Kadant Inc. (NYSE:KAI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 114,207 shares of the industrial products company’s stock, valued at approximately $39,400,000. Raymond James Financial Inc. owned 0.97% of Kadant at the end of the most recent quarter.

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

Kadant Stock Performance

NYSE KAI opened at $344.81 on Thursday. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95. 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 stock has a market capitalization of $4.05 billion, a PE ratio of 36.37 and a beta of 1.25. The company’s 50 day simple moving average is $368.53 and its two-hundred day simple moving average is $357.38.

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

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 0.39%. This is a boost from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and issued a $410.00 target price 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.