Kadant Inc. (KAI) Insider Jeffrey L. Powell Sells 7,773 Shares
Kadant Inc. (NYSE:KAI) insider Jeffrey L. Powell sold 7,773 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $51.20, for a total transaction of $397,977.60. Following the sale, the insider now directly owns 11,078 shares in the company, valued at approximately $567,193.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Kadant Inc. (NYSE:KAI) opened at 51.69 on Wednesday. Kadant Inc. has a 52 week low of $33.38 and a 52 week high of $56.57. The stock has a 50 day moving average of $53.33 and a 200 day moving average of $49.83. The company has a market cap of $563.27 million, a price-to-earnings ratio of 16.72 and a beta of 1.55.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.23. The business earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. Kadant had a return on equity of 13.55% and a net margin of 8.39%. Kadant’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities research analysts predict that Kadant Inc. will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, October 11th. Kadant’s dividend payout ratio (DPR) is presently 24.60%.
A number of brokerages have commented on KAI. William Blair began coverage on shares of Kadant in a report on Friday, September 16th. They set a “market perform” rating and a $49.00 price objective on the stock. Barrington Research increased their price objective on shares of Kadant from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Seaport Global Securities lowered shares of Kadant from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC increased its position in Kadant by 0.7% in the second quarter. BlackRock Advisors LLC now owns 5,267 shares of the company’s stock worth $271,000 after buying an additional 36 shares during the period. First Mercantile Trust Co. increased its position in Kadant by 7.8% in the second quarter. First Mercantile Trust Co. now owns 3,870 shares of the company’s stock worth $200,000 after buying an additional 280 shares during the period. Metropolitan Life Insurance Co. NY increased its position in 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. Hancock Holding Co. increased its position in Kadant by 1.8% in the second quarter. Hancock Holding Co. now owns 18,462 shares of the company’s stock worth $951,000 after buying an additional 332 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Kadant by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,163 shares of the company’s stock worth $2,790,000 after buying an additional 462 shares during the period. 87.85% of the stock is owned by institutional investors and hedge funds.
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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