Atria Investments Inc Acquires 298 Shares of Kadant Inc. (NYSE:KAI)

Atria Investments Inc raised its holdings in Kadant Inc. (NYSE:KAI) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,862 shares of the industrial products company’s stock after purchasing an additional 298 shares during the quarter. Atria Investments Inc’s holdings in Kadant were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Kadant by 1.1% during the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after acquiring an additional 1,629 shares during the period. Dudley & Shanley Inc. grew its stake 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 worth $10,985,000 after acquiring an additional 21,545 shares during the period. HighTower Advisors LLC grew its stake in shares of Kadant by 120.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 883 shares during the period. Synovus Financial Corp bought a new position in shares of Kadant during the 3rd quarter worth $585,000. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 24,358 shares during the period. Institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

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

Kadant Stock Up 0.5 %

Shares of NYSE KAI opened at $376.13 on Monday. Kadant Inc. has a 52 week low of $249.51 and a 52 week high of $429.95. The business has a 50-day simple moving average of $367.75 and a two-hundred day simple moving average of $356.77. 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 company has a market cap of $4.42 billion, a P/E ratio of 39.68 and a beta of 1.25.

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

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.36%. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is currently 13.50%.

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.