Curi RMB Capital LLC Lowers Position in Kadant Inc. (NYSE:KAI)

Curi RMB Capital LLC reduced its position in Kadant Inc. (NYSE:KAI) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 76,094 shares of the industrial products company’s stock after selling 1,458 shares during the quarter. Curi RMB Capital LLC’s holdings in Kadant were worth $26,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KAI. Dudley & Shanley Inc. increased its stake in shares of Kadant by 196.7% in the 3rd quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company’s stock valued at $10,985,000 after purchasing an additional 21,545 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Kadant by 120.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company’s stock valued at $546,000 after buying an additional 883 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Kadant by 60.3% in the 3rd 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 in the last quarter. Synovus Financial Corp purchased a new position in Kadant during the third quarter valued at $585,000. Finally, KBC Group NV increased its stake in shares of Kadant by 54.6% during the fourth quarter. KBC Group NV now owns 504 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Stock Performance

KAI opened at $305.13 on Friday. The firm has a market capitalization of $3.59 billion, a PE ratio of 32.19 and a beta of 1.24. The firm’s 50-day moving average price is $347.58 and its 200 day moving average price is $358.08. Kadant Inc. has a twelve month low of $249.51 and a twelve month high of $429.95. 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 released its quarterly earnings data 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 return on equity of 14.66% and a net margin of 10.59%. As a group, sell-side analysts expect that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 9th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.32. Kadant’s dividend payout ratio is 14.35%.

Analyst Ratings Changes

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

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.