Kadant Inc. (NYSE:KAI) CFO Michael J. Mckenney sold 119 shares of the stock in a transaction on 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 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 at this link.
Kadant Inc. (NYSE KAI) opened at $97.50 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84. Kadant Inc. has a twelve month low of $56.15 and a twelve month high of $114.00. The stock has a market cap of $1,070.00, a PE ratio of 28.93 and a beta of 1.37.
Kadant (NYSE:KAI) last issued its earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ 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 net margin of 8.17% and a return on equity of 14.84%. Kadant’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. equities analysts expect that Kadant Inc. will post 4.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, January 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. Kadant’s dividend payout ratio (DPR) is presently 24.93%.
Several equities analysts have recently commented on KAI shares. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Finally, Sidoti cut shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a research report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Kadant presently has a consensus rating of “Hold” and a consensus price target of $104.67.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KAI. Teachers Advisors LLC raised its holdings in shares of Kadant by 40.8% during the first quarter. Teachers Advisors LLC now owns 24,684 shares of the industrial products company’s stock valued at $1,465,000 after buying an additional 7,157 shares during the last quarter. State Street Corp raised its holdings in shares of Kadant by 1.5% during the first quarter. State Street Corp now owns 230,999 shares of the industrial products company’s stock valued at $13,710,000 after buying an additional 3,492 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Kadant by 32.8% during the first quarter. Credit Suisse AG now owns 16,648 shares of the industrial products company’s stock valued at $988,000 after buying an additional 4,110 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Kadant during the second quarter valued at approximately $387,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Kadant by 16.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 61,736 shares of the industrial products company’s stock valued at $4,643,000 after buying an additional 8,567 shares during the last quarter. 90.63% of the stock is currently owned by 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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