Kadant Inc. (NYSE:KAI) Director Sells $674,800.00 in Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the sale, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. The sale was disclosed in a filing with the SEC, which is available at this link.

Kadant Trading Up 0.9 %

NYSE:KAI traded up $2.92 on Monday, reaching $338.00. 67,149 shares of the stock traded hands, compared to its average volume of 84,644. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 35.17 and a beta of 1.21. Kadant Inc. has a 1-year low of $214.21 and a 1-year high of $363.40. The company’s 50 day moving average is $320.42 and its 200-day moving average is $303.46. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. During the same period in the prior year, the firm posted $2.54 EPS. Kadant’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Kadant Inc. will post 9.93 EPS for the current fiscal year.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.38%. Kadant’s dividend payout ratio is currently 13.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 price target on shares of Kadant in a report on Friday, September 20th. DA Davidson increased their target price on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Institutional Trading of Kadant

A number of large investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. purchased a new stake in Kadant in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Kadant during the second quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in shares of Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Covestor Ltd raised its holdings in Kadant by 31,600.0% in the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 316 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Kadant in the first quarter worth $141,000. Institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.