Kadant Inc. (NYSE:KAI) insider Michael J. Mckenney sold 1,400 shares of Kadant stock in a transaction on Monday, December 18th. The shares were sold at an average price of $100.26, for a total value of $140,364.00. Following the completion of the transaction, the insider now owns 14,595 shares in the company, valued at $1,463,294.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Kadant Inc. (NYSE:KAI) traded up $0.95 during mid-day trading on Thursday, reaching $100.60. The company had a trading volume of 38,200 shares, compared to its average volume of 60,169. Kadant Inc. has a 1 year low of $56.15 and a 1 year high of $114.00. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,096.88, a P/E ratio of 24.79 and a beta of 1.36.

Kadant (NYSE:KAI) last announced its earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.35. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The firm had revenue of $152.79 million for the quarter, compared to the consensus estimate of $141.33 million. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. sell-side analysts predict that Kadant Inc. will post 4.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, January 10th. This represents a $0.84 annualized dividend and a yield of 0.83%. Kadant’s dividend payout ratio (DPR) is 24.85%.

A number of hedge funds have recently made changes to their positions in KAI. Citigroup Inc. grew its stake in Kadant by 24.2% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. SG Americas Securities LLC purchased a new position in Kadant during the 2nd quarter worth $127,000. BNP Paribas Arbitrage SA grew its stake in Kadant by 718.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,530 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Kadant during the 2nd quarter worth $150,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Kadant during the 2nd quarter worth $176,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

A number of research analysts have recently issued reports on KAI shares. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Sidoti downgraded Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $104.67.

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About Kadant

Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.

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