Epoch Investment Partners Inc. lessened its stake in Kadant Inc. (NYSE:KAI) by 52.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,506 shares of the industrial products company’s stock after selling 118,237 shares during the quarter. Epoch Investment Partners Inc. owned about 0.98% of Kadant worth $8,839,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of KAI. Handelsbanken Fonder AB lifted its holdings in shares of Kadant by 43.2% during the 4th quarter. Handelsbanken Fonder AB now owns 770,867 shares of the industrial products company’s stock valued at $62,795,000 after acquiring an additional 232,564 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Kadant by 17.8% during the 4th quarter. Royce & Associates LP now owns 573,285 shares of the industrial products company’s stock valued at $46,700,000 after acquiring an additional 86,463 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Kadant by 12.3% during the 3rd quarter. Macquarie Group Ltd. now owns 631,580 shares of the industrial products company’s stock valued at $68,116,000 after acquiring an additional 69,325 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Kadant by 18.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 234,064 shares of the industrial products company’s stock valued at $25,244,000 after acquiring an additional 37,236 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Kadant by 61.5% during the 4th quarter. Stifel Financial Corp now owns 93,148 shares of the industrial products company’s stock valued at $7,574,000 after acquiring an additional 35,459 shares in the last quarter. Institutional investors and hedge funds own 93.94% of the company’s stock.
Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Barrington Research restated a “buy” rating and set a $110.00 target price on shares of Kadant in a report on Tuesday, February 26th. Zacks Investment Research lowered shares of Kadant from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Finally, Sidoti upgraded shares of Kadant from a “neutral” rating to a “buy” rating in a report on Tuesday, December 11th.
Kadant (NYSE:KAI) last released its quarterly earnings results on Thursday, February 14th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.31. Kadant had a net margin of 9.53% and a return on equity of 17.14%. The firm had revenue of $163.94 million for the quarter, compared to the consensus estimate of $160.67 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts expect that Kadant Inc. will post 5.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Tuesday, April 9th will be paid a dividend of $0.23 per share. This is an increase from Kadant’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, April 8th. This represents a $0.92 annualized dividend and a yield of 1.06%.
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Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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