Arizona State Retirement System Grows Stock Position in Kadant Inc. (NYSE:KAI)

Arizona State Retirement System grew its holdings in Kadant Inc. (NYSE:KAIFree Report) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,332 shares of the industrial products company’s stock after purchasing an additional 53 shares during the quarter. Arizona State Retirement System’s holdings in Kadant were worth $752,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of KAI. Dark Forest Capital Management LP lifted its stake in Kadant by 70.4% in the 1st quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Kadant during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its holdings in shares of Kadant by 62.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 318 shares of the industrial products company’s stock worth $66,000 after buying an additional 122 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Kadant by 63.1% during the 1st quarter. Citigroup Inc. now owns 734 shares of the industrial products company’s stock worth $153,000 after buying an additional 284 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Kadant during the 1st quarter worth approximately $222,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Kadant from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.

Check Out Our Latest Research Report on Kadant

Kadant Stock Performance

Shares of KAI stock opened at $294.42 on Thursday. The company has a quick ratio of 1.27, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Kadant Inc. has a 52 week low of $183.19 and a 52 week high of $297.57. The stock has a market capitalization of $3.45 billion, a PE ratio of 30.04 and a beta of 1.25. The firm has a 50 day moving average of $273.78 and a two-hundred day moving average of $243.58.

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 4th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, January 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.39%. Kadant’s dividend payout ratio (DPR) is currently 11.84%.

Kadant Profile

(Free Report)

Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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Institutional Ownership by Quarter for Kadant (NYSE:KAI)

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