Atria Investments Inc Grows Position in Kadant Inc. (NYSE:KAI)

Atria Investments Inc raised its holdings in Kadant Inc. (NYSE:KAI) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,862 shares of the industrial products company’s stock after acquiring an additional 298 shares during the period. Atria Investments Inc’s holdings in Kadant were worth $2,022,000 at the end of the most recent reporting period.

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

Kadant Stock Performance

Shares of NYSE KAI opened at $376.13 on Monday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 39.68 and a beta of 1.25. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The stock’s 50-day moving average is $367.75 and its 200 day moving average is $356.77.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 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%. On average, sell-side analysts anticipate that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently declared 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. This is a boost from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Wednesday, April 9th. Kadant’s payout ratio is 13.50%.

Analysts Set New Price Targets

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