Kadant (NYSE:KAI) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $106.00.
A number of brokerages recently issued reports on KAI. Zacks Investment Research lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Barrington Research reiterated an “outperform” rating and issued a $110.00 price objective on shares of Kadant in a report on Thursday, March 1st. Finally, ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
NYSE KAI traded down $1.10 during trading hours on Friday, reaching $97.35. The company’s stock had a trading volume of 35,173 shares, compared to its average volume of 58,620. The firm has a market cap of $1,080.20, a PE ratio of 21.69 and a beta of 1.37. Kadant has a 52 week low of $59.25 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.01 and a quick ratio of 1.37.
Kadant (NYSE:KAI) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $149.14 million during the quarter, compared to analyst estimates of $144.50 million. Kadant had a net margin of 6.04% and a return on equity of 15.93%. research analysts anticipate that Kadant will post 5.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, April 12th will be issued a dividend of $0.22 per share. This is a positive change from Kadant’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.88 annualized dividend and a yield of 0.90%. Kadant’s dividend payout ratio (DPR) is presently 19.60%.
In other Kadant news, insider Jeffrey L. Powell sold 7,277 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $100.38, for a total transaction of $730,465.26. Following the completion of the transaction, the insider now owns 7,102 shares in the company, valued at approximately $712,898.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sandra L. Lambert sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $104.51, for a total transaction of $258,662.25. Following the transaction, the vice president now owns 13,190 shares of the company’s stock, valued at approximately $1,378,486.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,854 shares of company stock valued at $1,607,931. Company insiders own 5.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in KAI. Royce & Associates LP raised its holdings in Kadant by 43.5% during the 4th quarter. Royce & Associates LP now owns 384,519 shares of the industrial products company’s stock worth $38,606,000 after purchasing an additional 116,547 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Kadant by 60.2% during the 4th quarter. Renaissance Technologies LLC now owns 146,399 shares of the industrial products company’s stock worth $14,698,000 after purchasing an additional 54,999 shares during the last quarter. BlackRock Inc. raised its holdings in Kadant by 4.8% during the 4th quarter. BlackRock Inc. now owns 1,138,121 shares of the industrial products company’s stock worth $114,267,000 after purchasing an additional 52,518 shares during the last quarter. Deutsche Bank AG raised its holdings in Kadant by 188.6% during the 4th quarter. Deutsche Bank AG now owns 67,139 shares of the industrial products company’s stock worth $6,738,000 after purchasing an additional 43,875 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Kadant by 78.3% during the 4th quarter. American Century Companies Inc. now owns 92,467 shares of the industrial products company’s stock worth $9,284,000 after buying an additional 40,602 shares during the period. Hedge funds and other institutional investors own 90.70% of the company’s stock.
Kadant Company Profile
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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