Associated Banc Corp Has $249,000 Position in Kadant Inc. (NYSE:KAI)

Associated Banc Corp lessened its holdings in Kadant Inc. (NYSE:KAI) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 721 shares of the industrial products company’s stock after selling 110 shares during the quarter. Associated Banc Corp’s holdings in Kadant were worth $249,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KAI. Zhang Financial LLC grew its stake in Kadant by 0.8% during the 4th quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock valued at $1,813,000 after acquiring an additional 40 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Kadant by 1.0% during the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock worth $1,483,000 after purchasing an additional 44 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after purchasing an additional 48 shares during the period. Sheets Smith Wealth Management increased its stake in Kadant by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company’s stock valued at $772,000 after buying an additional 69 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its position in Kadant by 9.9% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company’s stock worth $264,000 after buying an additional 69 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kadant Stock Performance

KAI stock opened at $352.23 on Monday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 37.15 and a beta of 1.25. The firm has a 50 day moving average of $368.35 and a two-hundred day moving average of $358.01. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. 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 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%. As a group, equities analysts anticipate that Kadant Inc. will post 9.97 EPS 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 given a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a yield of 0.39%. This is a boost from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio is presently 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.