Alliancebernstein L.P. Boosts Position in Kadant Inc. (NYSE:KAI)

Alliancebernstein L.P. lifted its position in Kadant Inc. (NYSE:KAI) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,051 shares of the industrial products company’s stock after purchasing an additional 1,678 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Kadant worth $4,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KAI. Zhang Financial LLC raised its holdings in Kadant by 0.8% in the 4th 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 period. Franklin Resources Inc. grew its stake in Kadant by 1.0% during 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 in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Kadant by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 2,239 shares of the industrial products company’s stock worth $772,000 after buying an additional 69 shares during the period. Robertson Stephens Wealth Management LLC increased its position in shares of Kadant by 9.9% in the 4th 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 last quarter. Finally, Hilltop National Bank acquired a new stake in Kadant in the fourth quarter valued at $26,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Price Performance

Shares of KAI opened at $317.72 on Monday. The firm has a fifty day moving average price of $353.20 and a 200 day moving average price of $359.23. The stock has a market cap of $3.74 billion, a PE ratio of 33.51 and a beta of 1.24. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. 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 released its quarterly earnings results 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, sell-side analysts anticipate 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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.43%. This is a positive change from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio (DPR) is currently 14.35%.

Analyst Upgrades and Downgrades

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

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.