Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $51.80, for a total transaction of $259,000.00. Following the sale, the director now directly owns 17,500 shares of the company’s stock, valued at $906,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Kadant Inc. (NYSE:KAI) opened at 50.88 on Friday. The stock has a 50 day moving average of $53.10 and a 200-day moving average of $50.59. Kadant Inc. has a 52 week low of $33.38 and a 52 week high of $56.57. The firm has a market cap of $554.44 million, a price-to-earnings ratio of 16.46 and a beta of 1.38.
Kadant (NYSE:KAI) last released its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.23. Kadant had a net margin of 8.39% and a return on equity of 13.55%. The company earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. Equities research analysts expect that Kadant Inc. will post $3.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 13th will be given a $0.19 dividend. The ex-dividend date is Tuesday, October 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. Kadant’s payout ratio is 24.60%.
A number of large investors have recently added to or reduced their stakes in the company. Ngam Advisors L.P. increased its stake in Kadant by 18.8% in the first quarter. Ngam Advisors L.P. now owns 56,787 shares of the company’s stock worth $2,565,000 after buying an additional 8,970 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Kadant by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 546,542 shares of the company’s stock worth $24,681,000 after buying an additional 6,475 shares during the last quarter. Royce & Associates LP increased its stake in Kadant by 88.0% in the first quarter. Royce & Associates LP now owns 514,967 shares of the company’s stock worth $23,256,000 after buying an additional 241,000 shares during the last quarter. UBS Group AG increased its stake in Kadant by 34.6% in the first quarter. UBS Group AG now owns 33,353 shares of the company’s stock worth $1,506,000 after buying an additional 8,580 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Kadant by 50.5% in the first quarter. Goldman Sachs Group Inc. now owns 35,534 shares of the company’s stock worth $1,605,000 after buying an additional 11,930 shares during the last quarter. Institutional investors own 87.85% of the company’s stock.
A number of equities analysts have weighed in on the stock. Seaport Global Securities cut shares of Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research report on Friday, August 5th. Barrington Research upped their price objective on shares of Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, William Blair assumed coverage on shares of Kadant in a research report on Friday, September 16th. They issued a “market perform” rating and a $49.00 price objective for the company. Three 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 an average rating of “Hold” and a consensus price target of $54.00.
Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.
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