Congress Wealth Management LLC DE Has $429,000 Stake in Kadant Inc. (NYSE:KAI)

Congress Wealth Management LLC DE reduced its position in shares of Kadant Inc. (NYSE:KAI) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,242 shares of the industrial products company’s stock after selling 144 shares during the period. Congress Wealth Management LLC DE’s holdings in Kadant were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in shares of Kadant during the fourth quarter worth $26,000. Westside Investment Management Inc. acquired a new stake in Kadant in the 3rd quarter worth about $31,000. Jones Financial Companies Lllp boosted its holdings in Kadant by 267.9% in the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 75 shares during the period. Washington Trust Advisors Inc. bought a new position in shares of Kadant during the fourth quarter worth approximately $85,000. Finally, Avanza Fonder AB acquired a new stake in shares of Kadant in the fourth quarter valued at approximately $160,000. 96.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kadant Price Performance

KAI stock opened at $336.72 on Friday. The company’s 50-day moving average price is $366.61 and its two-hundred day moving average price is $359.71. The firm has a market cap of $3.96 billion, a P/E ratio of 35.52 and a beta of 1.25. 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 announced its quarterly earnings data 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 net margin of 10.59% and a return on equity of 14.66%. On average, analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.40%. Kadant’s dividend payout ratio (DPR) 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.