Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 1,879 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $100.00, for a total transaction of $187,900.00. Following the transaction, the director now directly owns 14,965 shares in the company, valued at $1,496,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
NYSE KAI traded up $1.09 during trading on Friday, reaching $100.26. The company’s stock had a trading volume of 84,699 shares, compared to its average volume of 66,312. The company has a current ratio of 5.87, a quick ratio of 1.34 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.09 billion, a PE ratio of 16.97 and a beta of 1.29. The business has a 50-day moving average price of $87.57 and a 200-day moving average price of $87.35. Kadant Inc. has a 1-year low of $76.44 and a 1-year high of $103.01.
Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. The firm had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $172.94 million. Kadant had a net margin of 9.00% and a return on equity of 16.76%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. As a group, analysts expect that Kadant Inc. will post 5.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, October 9th.
A number of research analysts recently commented on KAI shares. ValuEngine raised shares of Kadant from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barrington Research set a $107.00 price objective on shares of Kadant and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Zacks Investment Research raised shares of Kadant from a “sell” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $100.03.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpha Windward LLC acquired a new stake in Kadant in the second quarter valued at approximately $456,000. Confluence Investment Management LLC lifted its stake in Kadant by 0.6% in the second quarter. Confluence Investment Management LLC now owns 61,308 shares of the industrial products company’s stock valued at $5,568,000 after acquiring an additional 336 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in Kadant in the second quarter valued at approximately $5,165,000. Price T Rowe Associates Inc. MD acquired a new stake in Kadant in the second quarter valued at approximately $262,000. Finally, Pictet Asset Management Ltd. lifted its stake in Kadant by 37.6% in the second quarter. Pictet Asset Management Ltd. now owns 170,704 shares of the industrial products company’s stock valued at $15,502,000 after acquiring an additional 46,660 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
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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