Kadant Inc. (NYSE:KAI) insider Michael J. Mckenney sold 1,400 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $100.26, for a total value of $140,364.00. Following the transaction, the insider now directly owns 14,595 shares in the company, valued at approximately $1,463,294.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Kadant Inc. (KAI) opened at $95.20 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. Kadant Inc. has a 12 month low of $56.15 and a 12 month high of $114.00. The firm has a market cap of $1,070.00, a P/E ratio of 28.25 and a beta of 1.37.
Kadant (NYSE:KAI) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The business had revenue of $152.79 million during the quarter, compared to analysts’ expectations of $141.33 million. During the same period last year, the company posted $0.81 EPS. The company’s revenue was up 44.8% on a year-over-year basis. research analysts predict that Kadant Inc. will post 4.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 11th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, January 10th. This represents a $0.84 annualized dividend and a yield of 0.88%. Kadant’s payout ratio is currently 24.93%.
Several equities research analysts have recently weighed in on KAI shares. ValuEngine downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Zacks Investment Research upgraded shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price objective for the company in a research report on Thursday, November 2nd. Finally, Sidoti downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $104.67.
A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Kadant by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,302 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 92 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Kadant by 24.2% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 275 shares during the last quarter. AlphaOne Investment Services LLC boosted its holdings in shares of Kadant by 0.8% in the 2nd quarter. AlphaOne Investment Services LLC now owns 44,943 shares of the industrial products company’s stock valued at $3,380,000 after purchasing an additional 350 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Kadant by 6.3% in the 2nd quarter. Voya Investment Management LLC now owns 6,861 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 408 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Kadant by 3.0% in the 2nd quarter. California Public Employees Retirement System now owns 17,300 shares of the industrial products company’s stock valued at $1,301,000 after purchasing an additional 500 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.
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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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