Kadant Inc. (NYSE:KAI) Director John M. Albertine sold 4,500 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $103.15, for a total value of $464,175.00. Following the transaction, the director now directly owns 10,740 shares in the company, valued at approximately $1,107,831. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of KAI stock traded up $0.12 on Friday, reaching $94.94. 68,481 shares of the company’s stock traded hands, compared to its average volume of 52,610. Kadant Inc. has a 12-month low of $90.65 and a 12-month high of $114.00. The company has a current ratio of 1.87, a quick ratio of 1.19 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 21.14 and a beta of 1.29.
Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Kadant had a return on equity of 16.05% and a net margin of 6.15%. The firm had revenue of $154.90 million during the quarter, compared to analysts’ expectations of $151.54 million. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, sell-side analysts predict that Kadant Inc. will post 5.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Thursday, October 11th will be given a $0.22 dividend. The ex-dividend date is Wednesday, October 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. Kadant’s dividend payout ratio is currently 19.60%.
Several analysts recently issued reports on the company. Barrington Research set a $112.00 price target on Kadant and gave the stock a “buy” rating in a report on Friday, June 29th. Zacks Investment Research cut Kadant from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, ValuEngine cut Kadant from a “buy” rating to a “hold” rating in a report on Thursday.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Kadant by 90.4% in the first quarter. SG Americas Securities LLC now owns 1,978 shares of the industrial products company’s stock worth $187,000 after buying an additional 939 shares during the last quarter. PEAK6 Investments L.P. acquired a new stake in shares of Kadant in the second quarter worth about $207,000. Brinker Capital Inc. bought a new position in shares of Kadant in the first quarter worth about $208,000. Nisa Investment Advisors LLC bought a new position in shares of Kadant in the second quarter worth about $212,000. Finally, Trexquant Investment LP bought a new position in shares of Kadant in the first quarter worth about $231,000. 97.60% of the stock is owned by institutional investors.
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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