Kadant Inc. (NYSE:KAI) Shares Bought by Callan Family Office LLC

Callan Family Office LLC grew its stake in shares of Kadant Inc. (NYSE:KAI) by 252.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,140 shares of the industrial products company’s stock after purchasing an additional 1,533 shares during the quarter. Callan Family Office LLC’s holdings in Kadant were worth $738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Washington Trust Advisors Inc. acquired a new position in shares of Kadant during the fourth quarter worth about $85,000. Raymond James Financial Inc. acquired a new position in shares of Kadant during the fourth quarter worth about $39,400,000. Atria Investments Inc lifted its stake in shares of Kadant by 5.4% during the fourth quarter. Atria Investments Inc now owns 5,862 shares of the industrial products company’s stock worth $2,022,000 after purchasing an additional 298 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Kadant by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,686 shares of the industrial products company’s stock worth $41,980,000 after purchasing an additional 445 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Kadant by 267.9% during the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Trading Up 0.5 %

NYSE:KAI opened at $376.13 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The business’s 50-day simple moving average is $367.75 and its 200 day simple moving average is $356.47. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 39.68 and a beta of 1.25.

Kadant (NYSE:KAI) last released its quarterly 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%. As a group, sell-side analysts predict that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors 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 0.36%. The ex-dividend date is Wednesday, April 9th. Kadant’s payout ratio is currently 13.50%.

Analysts Set New Price Targets

Separately, Barrington Research restated 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.