Kadant Inc. (KAI) Director Sells $74,745.00 in Stock

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Kadant Inc. (NYSE:KAI) Director William P. Tully sold 750 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $99.66, for a total value of $74,745.00. Following the completion of the transaction, the director now directly owns 6,025 shares in the company, valued at approximately $600,451.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Kadant stock traded down $0.89 during trading hours on Friday, hitting $99.66. The company’s stock had a trading volume of 30,406 shares, compared to its average volume of 40,082. Kadant Inc. has a twelve month low of $90.65 and a twelve month high of $111.85. The firm has a market cap of $1.11 billion, a PE ratio of 20.84 and a beta of 1.29. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.54.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.15. Kadant had a return on equity of 15.90% and a net margin of 6.91%. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.72 million. During the same quarter in the prior year, the company earned $1.49 EPS. Kadant’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Kadant Inc. will post 5.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, October 11th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.88%. The ex-dividend date was Wednesday, October 10th. Kadant’s payout ratio is 19.60%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Kadant by 1.4% during the 2nd quarter. BlackRock Inc. now owns 1,069,100 shares of the industrial products company’s stock worth $102,795,000 after acquiring an additional 15,229 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in Kadant by 165.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 892,526 shares of the industrial products company’s stock worth $96,259,000 after acquiring an additional 556,816 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Kadant by 12.3% during the 3rd quarter. Macquarie Group Ltd. now owns 631,580 shares of the industrial products company’s stock worth $68,116,000 after acquiring an additional 69,325 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Kadant by 8.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 538,303 shares of the industrial products company’s stock worth $58,056,000 after acquiring an additional 43,303 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Kadant by 1.6% during the 3rd quarter. Wells Fargo & Company MN now owns 489,290 shares of the industrial products company’s stock worth $52,770,000 after acquiring an additional 7,726 shares in the last quarter. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on KAI. Zacks Investment Research raised Kadant from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Barrington Research reaffirmed a “buy” rating and issued a $112.00 price target on shares of Kadant in a research note on Thursday, October 18th. Finally, ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th.

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About Kadant

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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