Kadant Inc. (NYSE:KAI) insider Michael J. Mckenney sold 2,261 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $86.12, for a total transaction of $194,717.32. Following the transaction, the insider now owns 17,318 shares in the company, valued at approximately $1,491,426.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
NYSE KAI opened at $87.24 on Friday. Kadant Inc. has a 52 week low of $76.44 and a 52 week high of $111.85. The stock has a market cap of $974.82 million, a PE ratio of 15.86 and a beta of 1.11. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.94.
Kadant (NYSE:KAI) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.11. Kadant had a net margin of 9.22% and a return on equity of 17.26%. The firm had revenue of $171.30 million during the quarter, compared to analyst estimates of $164.37 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that Kadant Inc. will post 5.31 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. increased its position in shares of Kadant by 7.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,123,588 shares of the industrial products company’s stock valued at $98,831,000 after purchasing an additional 78,147 shares during the last quarter. BlackRock Inc. increased its position in shares of Kadant by 0.9% during the 1st quarter. BlackRock Inc. now owns 796,539 shares of the industrial products company’s stock valued at $70,063,000 after purchasing an additional 7,315 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Kadant by 43.2% during the 4th quarter. Handelsbanken Fonder AB now owns 770,867 shares of the industrial products company’s stock valued at $62,795,000 after purchasing an additional 232,564 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Kadant by 3.7% during the 1st quarter. Macquarie Group Ltd. now owns 730,452 shares of the industrial products company’s stock valued at $64,250,000 after purchasing an additional 25,852 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Kadant by 2.8% during the 1st quarter. Royce & Associates LP now owns 589,315 shares of the industrial products company’s stock valued at $51,836,000 after purchasing an additional 16,030 shares during the last quarter. 92.63% of the stock is owned by hedge funds and other institutional investors.
KAI has been the topic of several research analyst reports. Barrington Research restated a “buy” rating and set a $112.00 target price on shares of Kadant in a research note on Monday, January 28th. Zacks Investment Research cut shares of Kadant from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. ValuEngine lowered shares of Kadant from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Seaport Global Securities lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $97.09 price target for the company. in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $103.55.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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