Kadant Inc. (NYSE:KAI) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Kadant Inc. (NYSE:KAI) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,810 shares of the industrial products company’s stock after selling 1,196 shares during the period. Pictet Asset Management Holding SA owned 0.59% of Kadant worth $24,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of KAI. Hilltop National Bank acquired a new stake in shares of Kadant in the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. purchased a new stake in Kadant in the 3rd quarter valued at $31,000. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 75 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Kadant during the 4th quarter worth $85,000. Finally, Avanza Fonder AB acquired a new position in shares of Kadant during the 4th quarter valued at about $160,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Trading Up 0.4 %

Shares of Kadant stock opened at $337.42 on Tuesday. 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. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 35.59 and a beta of 1.25. The stock has a 50 day moving average of $366.01 and a 200 day moving average of $360.60.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, April 9th. This is an increase from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is 14.35%.

Wall Street Analysts Forecast Growth

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.