Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $51.80, for a total transaction of $259,000.00. Following the transaction, the director now owns 17,500 shares in the company, valued at approximately $906,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Kadant Inc. (NYSE:KAI) opened at 50.88 on Friday. The company has a market cap of $554.44 million, a P/E ratio of 16.46 and a beta of 1.38. Kadant Inc. has a 52 week low of $33.38 and a 52 week high of $56.57. The stock has a 50 day moving average of $53.10 and a 200 day moving average of $50.59.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, beating 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 analyst estimates of $104.44 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts expect that Kadant Inc. will post $3.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be issued a dividend of $0.19 per share. 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 made changes to their positions in the stock. First Mercantile Trust Co. raised its stake in shares of Kadant by 7.8% in the second quarter. First Mercantile Trust Co. now owns 3,870 shares of the company’s stock worth $200,000 after buying an additional 280 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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. Ngam Advisors L.P. raised its stake in shares of 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. UBS Group AG raised its stake in shares of 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, Northpointe Capital LLC raised its stake in shares of Kadant by 18.0% in the second quarter. Northpointe Capital LLC now owns 58,772 shares of the company’s stock worth $3,027,000 after buying an additional 8,961 shares during the last quarter. Institutional investors own 87.85% of the company’s stock.
A number of brokerages have weighed in on KAI. Seaport Global Securities cut shares of Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Friday, August 5th. Barrington Research upped their price objective on shares of Kadant from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, William Blair began coverage on shares of Kadant in a report on Friday, September 16th. They issued a “market perform” rating and a $49.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $54.00.