Kadant Inc. (NYSE:KAI) insider Eric T. Langevin sold 8,932 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $99.69, for a total value of $890,431.08. Following the completion of the transaction, the insider now owns 34,382 shares in the company, valued at $3,427,541.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Kadant Inc. (NYSE:KAI) opened at $97.25 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1,073.21, a PE ratio of 24.25 and a beta of 1.37. Kadant Inc. has a twelve month low of $56.15 and a twelve month high of $114.00.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.35. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The business had revenue of $152.79 million for the quarter, compared to analysts’ expectations of $141.33 million. During the same period last year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 44.8% on a year-over-year basis. equities research analysts predict that Kadant Inc. will post 4.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, January 10th. This represents a $0.84 annualized dividend and a dividend yield of 0.86%. Kadant’s dividend payout ratio (DPR) is 24.85%.
Several hedge funds have recently modified their holdings of KAI. Teachers Advisors LLC increased its holdings in shares of Kadant by 476.6% in the second quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock worth $10,703,000 after purchasing an additional 117,641 shares during the last quarter. Cortina Asset Management LLC increased its holdings in shares of Kadant by 107.8% in the third quarter. Cortina Asset Management LLC now owns 182,124 shares of the industrial products company’s stock worth $17,948,000 after purchasing an additional 94,500 shares during the last quarter. Pier Capital LLC bought a new stake in shares of Kadant in the third quarter worth about $6,105,000. Epoch Investment Partners Inc. increased its holdings in shares of Kadant by 62.1% in the second quarter. Epoch Investment Partners Inc. now owns 154,196 shares of the industrial products company’s stock worth $11,596,000 after purchasing an additional 59,097 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Kadant by 12.7% in the third quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock worth $49,960,000 after purchasing an additional 57,222 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on KAI shares. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine cut Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Kadant presently has an average rating of “Hold” and a consensus target price of $104.67.
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Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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