Kadant Inc. (NYSE:KAI) Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Kadant Inc. (NYSE:KAI) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,967 shares of the industrial products company’s stock after selling 509 shares during the quarter. Victory Capital Management Inc.’s holdings in Kadant were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Kadant during the 4th quarter worth about $26,000. Icon Wealth Advisors LLC bought a new stake in shares of Kadant during the 3rd quarter worth about $28,000. Westside Investment Management Inc. bought a new stake in shares of Kadant during the 3rd quarter worth about $31,000. Jones Financial Companies Lllp raised its holdings in shares of Kadant by 267.9% in 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 in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Kadant in the 4th quarter worth approximately $160,000. 96.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Kadant Stock Up 0.1 %

NYSE KAI opened at $341.60 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company’s 50 day simple moving average is $368.19 and its 200 day simple moving average is $358.17. Kadant Inc. has a 12 month low of $249.51 and a 12 month high of $429.95. The company has a market capitalization of $4.02 billion, a P/E ratio of 36.03 and a beta of 1.25.

Kadant (NYSE:KAI) last released its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share 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%. Equities research analysts expect that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be given a $0.34 dividend. 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 0.40%. The ex-dividend date is Wednesday, April 9th. Kadant’s dividend payout ratio (DPR) is 14.35%.

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.