Segall Bryant & Hamill LLC Purchases 1,136 Shares of Kadant Inc. (NYSE:KAI)

Segall Bryant & Hamill LLC grew its position in Kadant Inc. (NYSE:KAI) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,289 shares of the industrial products company’s stock after purchasing an additional 1,136 shares during the period. Segall Bryant & Hamill LLC’s holdings in Kadant were worth $11,829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company’s stock valued at $420,292,000 after buying an additional 243,267 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kadant in the fourth quarter worth about $193,595,000. State Street Corp lifted its holdings in shares of Kadant by 2.3% during the 3rd quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after purchasing an additional 6,412 shares in the last quarter. FMR LLC lifted its holdings in shares of Kadant by 1.1% during the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock valued at $48,788,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after purchasing an additional 2,068 shares during the period. 96.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Kadant Stock Performance

Shares of Kadant stock opened at $347.24 on Wednesday. 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 firm has a market cap of $4.08 billion, a price-to-earnings ratio of 36.63 and a beta of 1.25. The stock’s 50-day moving average is $367.87 and its 200-day moving average is $359.62. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95.

Kadant (NYSE:KAI) last released its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. Equities analysts predict that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, April 9th. Kadant’s payout ratio is presently 14.35%.

About Kadant

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.