ValuEngine cut shares of Kadant (NYSE:KAI) from a buy rating to a hold rating in a research report released on Monday morning.

A number of other equities research analysts have also weighed in on the stock. Sidoti lowered shares of Kadant from a buy rating to a neutral rating and set a $102.00 target price on the stock. in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Kadant from a hold rating to a strong-buy rating and set a $126.00 target price on the stock in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kadant currently has a consensus rating of Buy and an average price target of $104.67.

Shares of Kadant (NYSE:KAI) traded down $1.50 during midday trading on Monday, hitting $97.40. 59,800 shares of the stock traded hands, compared to its average volume of 60,076. Kadant has a 52-week low of $56.15 and a 52-week high of $114.00. The firm has a market capitalization of $1,088.62, a price-to-earnings ratio of 24.60 and a beta of 1.36. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The firm had revenue of $152.79 million for the quarter, compared to analyst estimates of $141.33 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. sell-side analysts forecast that Kadant will post 4.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. Kadant’s dividend payout ratio is presently 24.85%.

In other Kadant news, CEO Jonathan W. Painter sold 20,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $103.82, for a total value of $2,076,400.00. Following the completion of the sale, the chief executive officer now owns 76,082 shares in the company, valued at approximately $7,898,833.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael J. Mckenney sold 3,600 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $99.14, for a total transaction of $356,904.00. Following the completion of the sale, the chief financial officer now owns 19,160 shares of the company’s stock, valued at approximately $1,899,522.40. The disclosure for this sale can be found here. Insiders sold a total of 31,287 shares of company stock worth $3,244,748 in the last 90 days. 5.59% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Macquarie Group Ltd. increased its stake in Kadant by 12.7% in the 3rd quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock valued at $49,960,000 after buying an additional 57,222 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Kadant by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 471,416 shares of the industrial products company’s stock valued at $35,450,000 after acquiring an additional 16,174 shares during the period. Northern Trust Corp grew its position in shares of Kadant by 9.1% during the 2nd quarter. Northern Trust Corp now owns 290,388 shares of the industrial products company’s stock valued at $21,836,000 after acquiring an additional 24,194 shares during the period. State Street Corp grew its position in shares of Kadant by 1.3% during the 2nd quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock valued at $17,590,000 after acquiring an additional 2,895 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Kadant by 2.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 226,042 shares of the industrial products company’s stock valued at $22,547,000 after acquiring an additional 5,164 shares during the period. Hedge funds and other institutional investors own 90.99% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Kadant (KAI) Downgraded by ValuEngine” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/15/kadant-kai-downgraded-by-valuengine.html.

About Kadant

Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Stock Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related stocks with our FREE daily email newsletter.