Impact Capital Partners LLC Purchases New Position in Kadant Inc. (NYSE:KAI)

Impact Capital Partners LLC purchased a new stake in shares of Kadant Inc. (NYSE:KAI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,042 shares of the industrial products company’s stock, valued at approximately $704,000.

Other hedge funds have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kadant during the fourth quarter valued at approximately $193,595,000. Raymond James Financial Inc. purchased a new stake in Kadant during the fourth quarter valued at approximately $39,400,000. Conestoga Capital Advisors LLC purchased a new stake in Kadant during the fourth quarter valued at approximately $38,560,000. Erste Asset Management GmbH purchased a new stake in Kadant during the third quarter valued at approximately $11,345,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Kadant in the third quarter worth $11,206,000. Institutional investors own 96.13% of the company’s stock.

Kadant Stock Performance

KAI opened at $344.81 on Thursday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 36.37 and a beta of 1.25. The company has a fifty day moving average of $368.53 and a 200 day moving average of $357.38. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. 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 (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share 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%. As a group, sell-side analysts forecast that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 9th. This is a boost from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.39%. Kadant’s payout ratio is currently 14.35%.

Analyst Ratings Changes

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

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.