Kadant Inc. (NYSE:KAI) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP lessened its position in Kadant Inc. (NYSE:KAI) by 36.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,230 shares of the industrial products company’s stock after selling 4,639 shares during the period. Dark Forest Capital Management LP owned approximately 0.07% of Kadant worth $2,839,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in shares of Kadant in the 4th quarter valued at approximately $26,000. Westside Investment Management Inc. purchased a new stake in shares of Kadant during the 3rd quarter worth $31,000. Jones Financial Companies Lllp grew its stake 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 worth $36,000 after purchasing an additional 75 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Kadant in the fourth quarter valued at about $85,000. Finally, Avanza Fonder AB purchased a new stake in Kadant during the fourth quarter worth about $160,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Up 3.1 %

NYSE:KAI opened at $295.10 on Wednesday. The company has a market capitalization of $3.48 billion, a PE ratio of 31.13 and a beta of 1.24. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $429.95. The stock has a fifty day simple moving average of $344.95 and a 200-day simple moving average of $357.84. 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 (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 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%. On average, equities research analysts expect that Kadant Inc. will post 9.97 earnings per share 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 given a dividend of $0.34 per share. This is an increase from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.46%. Kadant’s dividend payout ratio (DPR) is presently 14.35%.

Wall Street Analyst Weigh In

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

Kadant Company 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.