Kadant Inc. (NYSE:KAI) was down 3.8% on Friday . The company traded as low as $51.14 and last traded at $51.32, with a volume of 61,635 shares changing hands. The stock had previously closed at $53.33.

A number of equities research analysts have recently weighed in on KAI shares. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Seaport Global Securities upgraded Kadant from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 18th. Barrington Research boosted their price target on Kadant from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, William Blair started coverage on Kadant in a report on Friday. They issued a “market perform” rating and a $49.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Kadant presently has an average rating of “Hold” and an average target price of $54.00.

The company has a market capitalization of $555.64 million, a PE ratio of 16.49 and a beta of 1.55. The company has a 50-day moving average price of $53.70 and a 200 day moving average price of $49.39.

Kadant (NYSE:KAI) last announced its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.23. Kadant had a return on equity of 13.55% and a net margin of 8.39%. The firm earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts anticipate that Kadant Inc. will post $3.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $0.76 annualized dividend and a yield of 1.49%. Kadant’s payout ratio is 24.60%.

In related news, Director William P. Tully sold 3,750 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $51.85, for a total transaction of $194,437.50. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $259,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas C. Leonard sold 1,250 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $52.00, for a total value of $65,000.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,040,000. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KAI. Eagle Asset Management Inc. increased its stake in shares of Kadant by 70.4% in the second quarter. Eagle Asset Management Inc. now owns 264,270 shares of the company’s stock valued at $13,612,000 after buying an additional 109,194 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Kadant by 3.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,868 shares of the company’s stock valued at $400,000 after buying an additional 319 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Kadant by 5.4% in the first quarter. Renaissance Technologies LLC now owns 102,400 shares of the company’s stock valued at $4,624,000 after buying an additional 5,205 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Kadant by 61.1% in the first quarter. Kennedy Capital Management Inc. now owns 24,169 shares of the company’s stock valued at $1,091,000 after buying an additional 9,169 shares during the last quarter. Finally, Hancock Holding Co. increased its stake in shares of Kadant by 12.1% in the first quarter. Hancock Holding Co. now owns 18,130 shares of the company’s stock valued at $819,000 after buying an additional 1,959 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

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.

5 Day Chart for NYSE:KAI

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