Cannon Global Investment Management LLC Boosts Holdings in Kadant Inc. (NYSE:KAI)

Cannon Global Investment Management LLC grew its holdings in shares of Kadant Inc. (NYSE:KAI) by 128.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,600 shares of the industrial products company’s stock after purchasing an additional 900 shares during the period. Kadant makes up about 1.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 29th biggest holding. Cannon Global Investment Management LLC’s holdings in Kadant were worth $552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Kadant by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company’s stock worth $420,292,000 after acquiring an additional 243,267 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Kadant by 18.3% during the fourth quarter. LPL Financial LLC now owns 1,557 shares of the industrial products company’s stock worth $537,000 after buying an additional 241 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Kadant during the fourth quarter worth $828,000. Quantbot Technologies LP lifted its position in Kadant by 3,773.6% during the 4th quarter. Quantbot Technologies LP now owns 5,733 shares of the industrial products company’s stock worth $1,978,000 after acquiring an additional 5,585 shares during the period. Finally, Xponance Inc. lifted its position in Kadant by 10.2% during the 4th quarter. Xponance Inc. now owns 845 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kadant Trading Down 2.4 %

NYSE KAI opened at $333.16 on Monday. The company has a market capitalization of $3.92 billion, a PE ratio of 35.14 and a beta of 1.25. The company has a fifty day moving average of $368.04 and a 200 day moving average of $359.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $429.95.

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

Kadant Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.41%. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio is 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.