Kadant Inc. (NYSE:KAI) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC grew its holdings in Kadant Inc. (NYSE:KAI) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,358 shares of the industrial products company’s stock after purchasing an additional 26,067 shares during the period. Janus Henderson Group PLC owned approximately 1.33% of Kadant worth $53,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 75 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in Kadant during the 4th quarter worth about $85,000. Avanza Fonder AB acquired a new position in Kadant during the 4th quarter worth about $160,000. KBC Group NV lifted its stake in Kadant by 54.6% during the 4th quarter. KBC Group NV now owns 504 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 178 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Kadant by 1,289.5% during the 4th quarter. Venturi Wealth Management LLC now owns 528 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Wall Street Analysts Forecast Growth

KAI has been the topic of several research reports. Barrington Research reissued an “outperform” rating and set a $380.00 target price on shares of Kadant in a research note on Thursday, May 1st. DA Davidson decreased their target price on Kadant from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st.

Kadant Price Performance

Shares of NYSE KAI opened at $328.65 on Wednesday. The stock’s 50-day moving average is $322.45 and its two-hundred day moving average is $355.85. 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 Inc. has a 1-year low of $266.23 and a 1-year high of $429.95. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 34.67 and a beta of 1.30.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.13. Kadant had a return on equity of 14.66% and a net margin of 10.59%. The company had revenue of $239.21 million for the quarter, compared to the consensus estimate of $239.41 million. During the same quarter in the prior year, the business earned $2.38 EPS. Kadant’s revenue was down 3.9% on a year-over-year basis. Analysts forecast that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.34 per share. This is an increase from Kadant’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.36 annualized dividend and a yield of 0.41%. Kadant’s dividend payout ratio is 14.44%.

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.