Media stories about Kadant (NYSE:KAI) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Kadant earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave news headlines about the industrial products company an impact score of 47.3019495562699 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
A number of brokerages recently issued reports on KAI. Barrington Research reissued an “outperform” rating and set a $110.00 price target on shares of Kadant in a research note on Thursday, March 1st. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $112.67.
Kadant (NYSE KAI) opened at $104.35 on Monday. The company has a market capitalization of $1,150.78, a price-to-earnings ratio of 37.81 and a beta of 1.36. Kadant has a fifty-two week low of $56.15 and a fifty-two week high of $114.00. The company has a current ratio of 2.01, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, April 12th will be issued a dividend of $0.22 per share. This is an increase from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, April 11th. Kadant’s dividend payout ratio (DPR) is presently 30.43%.
In other Kadant news, COO Eric T. Langevin sold 7,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $99.62, for a total transaction of $697,340.00. Following the transaction, the chief operating officer now directly owns 34,382 shares in the company, valued at approximately $3,425,134.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sandra L. Lambert sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.01, for a total value of $400,040.00. Following the transaction, the vice president now owns 19,257 shares in the company, valued at $1,925,892.57. The disclosure for this sale can be found here. Insiders have sold a total of 36,598 shares of company stock worth $3,667,070 over the last 90 days. 5.59% of the stock is currently owned by company insiders.
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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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