O Shaughnessy Asset Management LLC Increases Stake in Kadant Inc. (NYSE:KAI)

O Shaughnessy Asset Management LLC lifted its holdings in shares of Kadant Inc. (NYSE:KAI) by 37.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,114 shares of the industrial products company’s stock after buying an additional 304 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Kadant were worth $384,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Zhang Financial LLC grew its stake in shares of Kadant by 0.8% during the fourth quarter. Zhang Financial LLC now owns 5,256 shares of the industrial products company’s stock valued at $1,813,000 after buying an additional 40 shares during the last quarter. Franklin Resources Inc. increased its stake in Kadant by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock worth $1,483,000 after purchasing an additional 44 shares during the period. Sheets Smith Wealth Management lifted its position in Kadant by 3.2% in the fourth quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company’s stock valued at $772,000 after purchasing an additional 69 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in shares of Kadant by 9.9% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 764 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 69 shares during the period. Finally, Hilltop National Bank bought a new position in shares of Kadant in the fourth quarter worth approximately $26,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Trading Up 1.8 %

KAI opened at $317.72 on Friday. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 33.51 and a beta of 1.24. Kadant Inc. has a one year low of $249.51 and a one year high of $429.95. The business has a 50 day simple moving average of $353.20 and a two-hundred day simple moving average of $359.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 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%. Analysts predict that Kadant Inc. will post 9.97 EPS for the current year.

Kadant Increases Dividend

The business 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 $0.34 dividend. This is an increase from Kadant’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, April 9th. Kadant’s dividend payout ratio is presently 14.35%.

Wall Street Analyst Weigh In

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