Kadant Inc. (NYSE:KAI) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of Kadant Inc. (NYSE:KAI) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,392 shares of the industrial products company’s stock after selling 764 shares during the period. King Luther Capital Management Corp owned approximately 0.05% of Kadant worth $2,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Kadant in the third quarter valued at approximately $25,000. Hilltop National Bank purchased a new position in shares of Kadant during the 4th quarter valued at approximately $26,000. Icon Wealth Advisors LLC acquired a new stake in Kadant in the 3rd quarter valued at $28,000. Westside Investment Management Inc. acquired a new stake in Kadant in the 3rd quarter valued at $31,000. Finally, Jones Financial Companies Lllp increased its holdings in Kadant by 267.9% in the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

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

Kadant Price Performance

Shares of Kadant stock opened at $344.81 on Thursday. 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 business has a 50 day simple moving average of $368.53 and a two-hundred day simple moving average of $357.38. The stock has a market capitalization of $4.05 billion, a P/E ratio of 36.37 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 announced its quarterly earnings data 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%. As a group, analysts predict that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

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

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.