Kadant Inc (KAI) Receives Average Recommendation of “Buy” from Brokerages

Shares of Kadant Inc (NYSE:KAI) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $104.67.

A number of equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research report on Saturday, August 5th. Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.

Kadant (KAI) opened at $99.90 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.35 and a quick ratio of 1.65. The firm has a market cap of $1,103.48, a P/E ratio of 24.94 and a beta of 1.43. Kadant has a 52-week low of $56.15 and a 52-week high of $114.00.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 12th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, October 11th. Kadant’s dividend payout ratio (DPR) is 24.85%.

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In related news, CEO Jonathan W. Painter sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $103.82, for a total transaction of $2,076,400.00. Following the completion of the transaction, the chief executive officer now owns 76,082 shares of the company’s stock, valued at $7,898,833.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William P. Tully sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.60, for a total transaction of $112,000.00. Following the transaction, the director now directly owns 5,250 shares of the company’s stock, valued at approximately $470,400. The disclosure for this sale can be found here. Insiders have sold 27,687 shares of company stock valued at $2,887,844 in the last ninety days. 5.59% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in shares of Kadant by 12.7% in the third quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock worth $49,960,000 after acquiring an additional 57,222 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kadant by 3.6% in the second quarter. Vanguard Group Inc. now owns 471,416 shares of the industrial products company’s stock worth $35,450,000 after acquiring an additional 16,174 shares in the last quarter. Northern Trust Corp increased its position in shares of Kadant by 9.1% in the second quarter. Northern Trust Corp now owns 290,388 shares of the industrial products company’s stock worth $21,836,000 after acquiring an additional 24,194 shares in the last quarter. State Street Corp increased its position in shares of Kadant by 1.3% in the second quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock worth $17,590,000 after acquiring an additional 2,895 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Kadant by 2.3% in the third quarter. Eagle Asset Management Inc. now owns 226,042 shares of the industrial products company’s stock worth $22,547,000 after acquiring an additional 5,164 shares in the last quarter. 92.09% of the stock is owned by institutional investors.

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.

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