Tudor Investment Corp ET AL purchased a new position in shares of Kadant Inc (NYSE:KAI – Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,039 shares of the industrial products company’s stock, valued at approximately $1,500,000.
A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC raised its position in Kadant by 11.2% in the 1st quarter. AQR Capital Management LLC now owns 2,763 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 279 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Kadant by 8.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 907 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 72 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kadant by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,985 shares of the industrial products company’s stock worth $2,353,000 after purchasing an additional 311 shares during the last quarter. United Services Automobile Association bought a new position in Kadant in the 1st quarter worth approximately $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kadant by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,974 shares of the industrial products company’s stock worth $10,435,000 after purchasing an additional 441 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.
Kadant Price Performance
KAI opened at $325.21 on Monday. The company has a fifty day moving average price of $320.97 and a two-hundred day moving average price of $302.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.47 and a current ratio of 2.38. Kadant Inc has a 52 week low of $244.87 and a 52 week high of $369.97. The firm has a market capitalization of $3.84 billion, a PE ratio of 37.60 and a beta of 1.26.
Kadant Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.44 dividend on an annualized basis and a yield of 0.4%. This is a boost from Kadant’s previous quarterly dividend of $0.34. Kadant’s dividend payout ratio (DPR) is presently 15.72%.
Analysts Set New Price Targets
Several research analysts recently weighed in on KAI shares. Barrington Research restated an “outperform” rating and issued a $380.00 price objective on shares of Kadant in a research report on Tuesday, February 24th. DA Davidson set a $303.00 price objective on shares of Kadant in a research report on Friday, February 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kadant in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $341.50.
Read Our Latest Stock Report on Kadant
Kadant Company Profile
Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.
Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.
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