Kadant Inc. (NYSE:KAI) CFO Michael J. Mckenney sold 119 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.00, for a total value of $11,900.00. Following the completion of the sale, the chief financial officer now directly owns 14,595 shares of the company’s stock, valued at $1,459,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Kadant Inc. (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 stock has a market capitalization of $1,070.00, a price-to-earnings ratio of 28.86 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 data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.35. The firm had revenue of $152.79 million for the quarter, compared to analysts’ expectations of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. equities research analysts expect that Kadant Inc. will post 4.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Wednesday, January 10th. Kadant’s payout ratio is currently 24.93%.
Several hedge funds and other institutional investors have recently modified their holdings of KAI. Teachers Advisors LLC increased its position in shares of Kadant by 40.8% in the first quarter. Teachers Advisors LLC now owns 24,684 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 7,157 shares during the period. State Street Corp increased its position in shares of Kadant by 1.5% in the first quarter. State Street Corp now owns 230,999 shares of the industrial products company’s stock worth $13,710,000 after purchasing an additional 3,492 shares during the period. Credit Suisse AG increased its position in shares of Kadant by 32.8% in the first quarter. Credit Suisse AG now owns 16,648 shares of the industrial products company’s stock worth $988,000 after purchasing an additional 4,110 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Kadant in the second quarter worth $387,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Kadant by 16.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,736 shares of the industrial products company’s stock worth $4,643,000 after purchasing an additional 8,567 shares during the period. Institutional investors own 90.63% of the company’s stock.
A number of equities analysts have weighed in on KAI shares. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Sidoti downgraded Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $104.67.
Kadant Company Profile
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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