Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $51.80, for a total value of $259,000.00. Following the completion of the transaction, the director now owns 17,500 shares in the company, valued at approximately $906,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Kadant Inc. (NYSE:KAI) opened at 50.88 on Friday. Kadant Inc. has a 52-week low of $33.38 and a 52-week high of $56.57. The stock has a market cap of $554.44 million, a P/E ratio of 16.46 and a beta of 1.38. The firm’s 50 day moving average price is $53.10 and its 200 day moving average price is $50.59.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.23. The company earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. Kadant had a net margin of 8.39% and a return on equity of 13.55%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. On average, analysts expect that Kadant Inc. will post $3.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 11th. Kadant’s dividend payout ratio (DPR) is currently 24.60%.
Several equities analysts recently commented on KAI shares. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Seaport Global Securities upgraded Kadant from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 18th. William Blair started coverage on Kadant in a research note on Friday, September 16th. They issued a “market perform” rating and a $49.00 price objective on the stock. Finally, Barrington Research upped their price objective on Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.00.
Several large investors have recently made changes to their positions in the stock. Dean Investment Associates LLC increased its stake in shares of Kadant by 4.7% in the second quarter. Dean Investment Associates LLC now owns 47,205 shares of the company’s stock valued at $2,432,000 after buying an additional 2,140 shares during the period. Northpointe Capital LLC increased 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 valued at $3,027,000 after buying an additional 8,961 shares during the period. Bank of Montreal Can purchased a new stake in shares of Kadant during the second quarter valued at $1,147,000. Eagle Asset Management Inc. increased its stake in shares of Kadant by 70.4% in the second quarter. Eagle Asset Management Inc. now owns 264,270 shares of the company’s stock valued at $13,612,000 after buying an additional 109,194 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Kadant by 3.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,868 shares of the company’s stock valued at $400,000 after buying an additional 319 shares during the period. 87.85% of the stock is owned by institutional investors.
Kadant Company Profile