Farther Finance Advisors LLC Sells 33 Shares of Kadant Inc. (NYSE:KAI)

Farther Finance Advisors LLC lessened its position in Kadant Inc. (NYSE:KAI) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 661 shares of the industrial products company’s stock after selling 33 shares during the period. Farther Finance Advisors LLC’s holdings in Kadant were worth $228,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KAI. Zhang Financial LLC boosted its holdings in shares of Kadant by 0.8% in 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 period. Franklin Resources Inc. boosted its holdings in shares of Kadant by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after buying an additional 44 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Kadant by 0.7% in the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock valued at $2,419,000 after buying an additional 48 shares during the period. Associated Banc Corp boosted its holdings in shares of Kadant by 7.5% in the third quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock valued at $281,000 after buying an additional 58 shares during the period. Finally, Sheets Smith Wealth Management boosted its holdings in shares of 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 buying an additional 69 shares during the period. Institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

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

Kadant Stock Performance

Shares of KAI opened at $343.96 on Wednesday. Kadant Inc. has a 12 month low of $249.51 and a 12 month high of $429.95. The firm has a fifty day simple moving average of $368.32 and a 200 day simple moving average of $358.41. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 36.28 and a beta of 1.25. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37.

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

Kadant Increases Dividend

The firm 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 dividend of $0.34 per share. This is a boost from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.40%. Kadant’s dividend 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.