Kadant’s (KAI) “Neutral” Rating Reiterated at DA Davidson

DA Davidson restated their neutral rating on shares of Kadant (NYSE:KAI) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $295.00 price target on the industrial products company’s stock.

A number of other brokerages also recently issued reports on KAI. Barrington Research reiterated an “outperform” rating and issued a $380.00 price target on shares of Kadant in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Kadant in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $337.50.

Kadant Price Performance

Shares of KAI opened at $343.57 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.60 and a current ratio of 2.45. The company has a 50 day moving average price of $304.71 and a 200-day moving average price of $305.15. Kadant has a fifty-two week low of $244.87 and a fifty-two week high of $409.73. The stock has a market capitalization of $4.05 billion, a PE ratio of 39.72 and a beta of 1.25.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Thursday, January 8th were given a $0.34 dividend. The ex-dividend date was Thursday, January 8th. This represents a $1.36 dividend on an annualized basis and a yield of 0.4%. Kadant’s dividend payout ratio is currently 15.72%.

Insiders Place Their Bets

In related news, Director Erin L. Russell sold 1,435 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $282.36, for a total transaction of $405,186.60. Following the completion of the transaction, the director owned 3,066 shares of the company’s stock, valued at $865,715.76. This trade represents a 31.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rebecca Martinez O’mara sold 699 shares of Kadant stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $266.91, for a total value of $186,570.09. Following the transaction, the director owned 1,141 shares of the company’s stock, valued at $304,544.31. The trade was a 37.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kadant

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Kadant by 1,300.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84 shares of the industrial products company’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Kadant in the second quarter valued at approximately $27,000. CWM LLC boosted its stake in shares of Kadant by 102.3% in the fourth quarter. CWM LLC now owns 87 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Kadant during the second quarter worth approximately $31,000. Finally, Danske Bank A S acquired a new position in Kadant in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

About Kadant

Kadant Inc, headquartered in Westford, Massachusetts, is a global supplier of high‐value, critical components and engineered systems for the pulp and paper industry and other process industries. The company’s product portfolio spans stock preparation technologies, refiners and pulpers, fluid handling systems, and web‐handling equipment designed to optimize the efficiency and quality of paper production. In addition to capital equipment, Kadant offers aftermarket services, including spare parts, maintenance programs and process optimization consulting, which together support long‐term customer productivity and reliability.

Originally part of a larger industrial conglomerate, Kadant was established as an independent public company in 1991.