Kadant Inc. (KAI) Insider Sells $890,431.08 in Stock

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.

ILLEGAL ACTIVITY WARNING: “Kadant Inc. (KAI) Insider Sells $890,431.08 in Stock” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2018/01/13/kadant-inc-kai-insider-eric-t-langevin-sells-8932-shares-of-stock.html.

About Kadant

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.

Insider Buying and Selling by Quarter for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply