Kadant Inc. (KAI) Director Thomas C. Leonard Sells 5,000 Shares
Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 17,500 shares in the company, valued at $906,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Kadant Inc. (NYSE:KAI) opened at 50.88 on Friday. Kadant Inc. has a 12-month low of $33.38 and a 12-month high of $56.57. The company’s 50 day moving average price is $53.10 and its 200-day moving average price is $50.59. The stock has a market cap of $554.44 million, a price-to-earnings ratio of 16.46 and a beta of 1.38.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, topping 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 firm earned $111.83 million during the quarter, compared to analysts’ expectations of $104.44 million. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. On average, analysts forecast that Kadant Inc. will post $3.04 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. Kadant’s dividend payout ratio (DPR) is 24.60%.
A number of hedge funds have recently made changes to their positions in the company. Dean Investment Associates LLC boosted 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 worth $2,432,000 after buying an additional 2,140 shares during the period. Northpointe Capital LLC boosted 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 period. Bank of Montreal Can acquired a new stake in shares of Kadant during the second quarter worth $1,147,000. Eagle Asset Management Inc. boosted 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 worth $13,612,000 after buying an additional 109,194 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted 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 worth $400,000 after buying an additional 319 shares during the period. 87.85% of the stock is owned by hedge funds and other institutional investors.
KAI has been the topic of a number of analyst reports. Seaport Global Securities cut Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research note on Friday, August 5th. William Blair began coverage on Kadant in a research report on Friday, September 16th. They set a “market perform” rating and a $49.00 target price on the stock. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Barrington Research lifted their target price on Kadant from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Kadant currently has an average rating of “Hold” and a consensus price target of $54.00.
Kadant Company Profile
Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.
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