Kadant Inc (NYSE:KAI) VP Sandra L. Lambert sold 6,437 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total transaction of $699,444.42. Following the sale, the vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $2,275,557.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Kadant Inc (KAI) opened at $99.90 on Wednesday. Kadant Inc has a 12-month low of $56.15 and a 12-month high of $114.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. The firm has a market cap of $1,103.48, a price-to-earnings ratio of 24.94 and a beta of 1.43.
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 Thomson Reuters’ consensus estimate of $1.14 by $0.35. The company had revenue of $152.79 million during 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 for the quarter was up 44.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. research analysts anticipate that Kadant Inc will post 4.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Wednesday, October 11th. Kadant’s payout ratio is 24.85%.
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A number of large investors have recently bought and sold shares of the business. Macquarie Group Ltd. grew its holdings in 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 period. Vanguard Group Inc. grew its holdings in Kadant by 3.6% in the second quarter. Vanguard Group Inc. now owns 471,416 shares of the industrial products company’s stock worth $35,450,000 after purchasing an additional 16,174 shares during the period. Handelsbanken Fonder AB grew its holdings in Kadant by 7.1% in the second quarter. Handelsbanken Fonder AB now owns 345,000 shares of the industrial products company’s stock worth $25,944,000 after purchasing an additional 23,000 shares during the period. Northern Trust Corp grew its holdings in Kadant by 9.1% in the second quarter. Northern Trust Corp now owns 290,388 shares of the industrial products company’s stock worth $21,836,000 after purchasing an additional 24,194 shares during the period. Finally, State Street Corp lifted its stake in shares of Kadant by 1.3% in the second quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock valued at $17,590,000 after buying an additional 2,895 shares in the last quarter. Institutional investors and hedge funds own 92.09% of the company’s stock.
Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Sidoti cut shares of 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price 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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