Farther Finance Advisors LLC Has $228,000 Holdings in Kadant Inc. (NYSE:KAI)

Farther Finance Advisors LLC cut its position in Kadant Inc. (NYSE:KAI) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Kadant by 1.1% in the third quarter. FMR LLC now owns 144,344 shares of the industrial products company’s stock worth $48,788,000 after acquiring an additional 1,629 shares during the last quarter. Dudley & Shanley Inc. raised its stake in shares of Kadant by 196.7% in the third quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock worth $10,985,000 after acquiring an additional 21,545 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Kadant by 120.1% in the third quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 883 shares during the last quarter. Synovus Financial Corp bought a new position in shares of Kadant in the third quarter worth about $585,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Kadant by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company’s stock worth $21,876,000 after acquiring an additional 24,358 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Trading Down 3.0 %

KAI opened at $343.96 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 company has a market cap of $4.04 billion, a price-to-earnings ratio of 36.28 and a beta of 1.25. The firm has a 50 day simple moving average of $368.32 and a 200 day simple moving average of $358.41. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, sell-side analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current year.

Kadant Increases Dividend

The firm 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 dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.40%. This is an increase from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant’s payout ratio is 14.35%.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued 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.