Petros Family Wealth LLC Makes New Investment in Kadant Inc. (NYSE:KAI)

Petros Family Wealth LLC bought a new stake in Kadant Inc. (NYSE:KAI) during the 4th quarter, HoldingsChannel reports. The fund bought 705 shares of the industrial products company’s stock, valued at approximately $243,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hilltop National Bank acquired a new position in shares of Kadant during the fourth quarter valued at $26,000. Westside Investment Management Inc. acquired a new position in Kadant in the third quarter worth approximately $31,000. Jones Financial Companies Lllp increased its holdings in shares of Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after buying an additional 75 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Kadant during the fourth quarter valued at $85,000. Finally, Avanza Fonder AB acquired a new position in shares of Kadant in the 4th quarter valued at $160,000. Institutional investors own 96.13% of the company’s stock.

Kadant Trading Up 1.8 %

NYSE KAI opened at $317.72 on Friday. 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 Inc. has a 1-year low of $249.51 and a 1-year high of $429.95. The firm’s fifty day simple moving average is $353.20 and its 200-day simple moving average is $359.06. The company has a market capitalization of $3.74 billion, a PE ratio of 33.51 and a beta of 1.24.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Kadant Inc. will post 9.97 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.34 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 0.43%. Kadant’s dividend payout ratio is currently 14.35%.

Wall Street Analysts Forecast Growth

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

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.