Kadant Inc. (NYSE:KAI) CFO Michael J. Mckenney sold 5,516 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $135.12, for a total value of $745,321.92.
NYSE:KAI opened at $141.18 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $128.72 and its two-hundred day moving average is $115.07. Kadant Inc. has a 52 week low of $52.71 and a 52 week high of $142.45. The company has a market cap of $1.62 billion, a PE ratio of 34.18, a P/E/G ratio of 3.56 and a beta of 1.38.
Kadant (NYSE:KAI) last released its earnings results on Sunday, November 1st. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. Kadant had a return on equity of 12.57% and a net margin of 7.35%. The company had revenue of $154.61 million for the quarter, compared to the consensus estimate of $142.71 million. As a group, sell-side analysts expect that Kadant Inc. will post 4.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 4th. Investors of record on Thursday, January 7th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, January 6th. Kadant’s dividend payout ratio (DPR) is 17.91%.
A number of brokerages have weighed in on KAI. Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating and set a $135.00 price objective for the company in a research note on Saturday, October 31st. Sidoti raised their price objective on Kadant from $102.00 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, BidaskClub upgraded Kadant from a “hold” rating to a “buy” rating in a research note on Thursday, December 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Kadant has an average rating of “Hold” and a consensus price target of $112.75.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. lifted its holdings in shares of Kadant by 3.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,678,883 shares of the industrial products company’s stock worth $184,040,000 after purchasing an additional 49,918 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Kadant by 37.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 693,776 shares of the industrial products company’s stock worth $76,052,000 after purchasing an additional 189,616 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kadant by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 597,320 shares of the industrial products company’s stock worth $59,530,000 after purchasing an additional 49,939 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Kadant by 35,614.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 397,861 shares of the industrial products company’s stock worth $1,133,000 after purchasing an additional 396,747 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Kadant by 36.5% in the 2nd quarter. Bank of America Corp DE now owns 89,553 shares of the industrial products company’s stock worth $8,924,000 after purchasing an additional 23,930 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors and hedge funds.
Kadant Company Profile
Kadant Inc supplies equipment and critical components worldwide. The company’s 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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