Inspire Advisors LLC Raises Holdings in Kadant Inc. (NYSE:KAI)

Inspire Advisors LLC boosted its holdings in shares of Kadant Inc. (NYSE:KAI) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,073 shares of the industrial products company’s stock after buying an additional 80 shares during the quarter. Inspire Advisors LLC’s holdings in Kadant were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Kadant during the third quarter valued at approximately $25,000. Hilltop National Bank purchased a new position in Kadant in the fourth quarter worth $26,000. Icon Wealth Advisors LLC purchased a new position in Kadant in the third quarter worth $28,000. Westside Investment Management Inc. purchased a new position in Kadant in the third quarter worth $31,000. Finally, Jones Financial Companies Lllp grew its holdings in Kadant by 267.9% in 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 during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Price Performance

NYSE KAI opened at $371.66 on Tuesday. The firm’s fifty day simple moving average is $368.27 and its two-hundred day simple moving average is $357.21. 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 12-month low of $249.51 and a 12-month high of $429.95. The firm has a market capitalization of $4.37 billion, a P/E ratio of 39.20 and a beta of 1.25.

Kadant (NYSE:KAI) last posted its quarterly earnings data 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%. Analysts forecast that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. This is an increase from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant’s payout ratio is presently 14.35%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $410.00 price target 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.