Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 1,879 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $100.00, for a total transaction of $187,900.00. Following the transaction, the director now owns 14,965 shares in the company, valued at approximately $1,496,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NYSE KAI opened at $100.26 on Friday. Kadant Inc. has a 12 month low of $76.44 and a 12 month high of $103.01. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 1.34. The firm has a market capitalization of $1.09 billion, a PE ratio of 16.97 and a beta of 1.29. The company’s 50 day simple moving average is $87.83 and its 200 day simple moving average is $87.37.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Kadant had a net margin of 9.00% and a return on equity of 16.76%. The business had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.94 million. During the same quarter last year, the business earned $1.53 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Kadant Inc. will post 5.35 earnings per share for the current fiscal year.
A number of research analysts recently commented on KAI shares. Barrington Research set a $107.00 price objective on shares of Kadant and gave the company a “buy” rating in a research note on Tuesday, October 15th. Zacks Investment Research upgraded shares of Kadant from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, ValuEngine upgraded shares of Kadant from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Kadant has an average rating of “Hold” and an average target price of $100.03.
A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors Inc. grew its position in Kadant by 10.4% in the second quarter. Wasatch Advisors Inc. now owns 1,240,843 shares of the industrial products company’s stock worth $112,681,000 after buying an additional 117,255 shares during the last quarter. BlackRock Inc. grew its position in Kadant by 18.3% in the second quarter. BlackRock Inc. now owns 942,044 shares of the industrial products company’s stock worth $85,546,000 after buying an additional 145,505 shares during the last quarter. Handelsbanken Fonder AB grew its position in Kadant by 5.9% in the second quarter. Handelsbanken Fonder AB now owns 644,300 shares of the industrial products company’s stock worth $58,509,000 after buying an additional 36,000 shares during the last quarter. Vanguard Group Inc. grew its position in Kadant by 0.4% in the second quarter. Vanguard Group Inc. now owns 532,537 shares of the industrial products company’s stock worth $48,360,000 after buying an additional 1,968 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Kadant by 3.6% in the second quarter. Wells Fargo & Company MN now owns 436,083 shares of the industrial products company’s stock worth $39,599,000 after buying an additional 15,241 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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