Insider Selling: Thomas Obrien Sells 4,000 Shares of Kadant Stock (KAI)
Kadant (NYSE:KAI) CFO Thomas Obrien sold 4,000 shares of Kadant stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $34.99, for a total value of $139,960.00. Following the completion of the sale, the chief financial officer now directly owns 16,107 shares of the company’s stock, valued at approximately $563,584. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Kadant (NYSE:KAI) traded up 1.83% during mid-day trading on Monday, hitting $35.62. 24,580 shares of the company’s stock traded hands. Kadant has a 52-week low of $21.76 and a 52-week high of $35.31. The stock’s 50-day moving average is $33.32 and its 200-day moving average is $30.95. The company has a market cap of $397.6 million and a P/E ratio of 13.75.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.56 by $0.05. The company had revenue of $82.17 million for the quarter, compared to the consensus estimate of $82.65 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Kadant will post $2.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 7th. Investors of record on Thursday, October 10th will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Tuesday, October 8th.
KAI has been the subject of a number of recent research reports. Analysts at Global Hunter Securities raised their price target on shares of Kadant from $22.00 to $30.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Analysts at Barrington Research reiterated an “outperform” rating on shares of Kadant in a research note to investors on Wednesday, July 31st. They now have a $40.00 price target on the stock, up previously from $37.00.
Kadant Inc is a supplier of equipment used in the global papermaking and paper recycling industries and a manufacturer of granules made from papermaking byproducts.
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