Trade Report: The 5,000 Shares of Kadant Inc. (KAI) Stock are sold by Thomas C. Leonard

The 5,000 Shares of Kadant Inc. (KAI) Stock are sold by Thomas C. Leonard

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.

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