Price T Rowe Associates Inc. MD Sells 17,108 Shares of Kadant Inc. (NYSE:KAI)

Price T Rowe Associates Inc. MD cut its position in Kadant Inc. (NYSE:KAI) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,397 shares of the industrial products company’s stock after selling 17,108 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.63% of Kadant worth $66,031,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of Kadant by 1.7% in the fourth quarter. Synovus Financial Corp now owns 1,761 shares of the industrial products company’s stock valued at $608,000 after buying an additional 29 shares during the period. Bank of Montreal Can raised its stake in shares of Kadant by 3.2% in the fourth quarter. Bank of Montreal Can now owns 1,187 shares of the industrial products company’s stock valued at $410,000 after buying an additional 37 shares during the period. Zhang Financial LLC raised its stake in shares of Kadant by 0.8% in the fourth quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock valued at $1,813,000 after buying an additional 40 shares during the period. Franklin Resources Inc. raised its stake in shares of Kadant by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after buying an additional 44 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in shares of Kadant by 5.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,226 shares of the industrial products company’s stock valued at $423,000 after buying an additional 59 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Kadant Stock Performance

NYSE:KAI opened at $313.33 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 33.05 and a beta of 1.24. The business’s fifty day moving average is $338.40 and its 200 day moving average is $357.73.

Kadant (NYSE:KAI) last released 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 return on equity of 14.66% and a net margin of 10.59%. Research analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The firm also recently announced 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 positive change from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, April 9th. Kadant’s dividend payout ratio is currently 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.