Cibc World Markets Corp Makes New $378,000 Investment in Kadant Inc. (NYSE:KAI)

Cibc World Markets Corp acquired a new stake in shares of Kadant Inc. (NYSE:KAI) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,096 shares of the industrial products company’s stock, valued at approximately $378,000.

Other institutional investors have also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kadant during the fourth quarter valued at approximately $193,595,000. State Street Corp raised its holdings in shares of Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock worth $94,909,000 after acquiring an additional 6,412 shares in the last quarter. FMR LLC boosted its position 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 valued at $48,788,000 after acquiring an additional 1,629 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Kadant by 1.6% in the third quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after purchasing an additional 2,068 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company’s stock worth $41,447,000 after purchasing an additional 31,675 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Trading Down 2.4 %

Shares of NYSE KAI opened at $333.16 on Monday. 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 business’s 50 day moving average is $368.04 and its two-hundred day moving average is $359.00. The stock has a market capitalization of $3.92 billion, a P/E ratio of 35.14 and a beta of 1.25.

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

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.41%. This is a boost from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant’s payout ratio is 14.35%.

Analyst Upgrades and Downgrades

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