Insider Selling: Sandra L. Lambert Sells 3,004 Shares of Kadant Stock (KAI)
Kadant (NYSE:KAI) VP Sandra L. Lambert sold 3,004 shares of Kadant stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $40.00, for a total transaction of $120,160.00. Following the sale, the vice president now directly owns 18,617 shares of the company’s stock, valued at approximately $744,680. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Global Hunter Securities upgraded shares of Kadant from a “neutral” rating to an “accumulate” rating in a research note on Thursday, July 31st. They now have a $42.00 price target on the stock, up previously from $37.00.
Shares of Kadant (NYSE:KAI) traded down 0.10% during mid-day trading on Tuesday, hitting $40.04. 37,350 shares of the company’s stock traded hands. Kadant has a 52 week low of $30.32 and a 52 week high of $41.95. The stock’s 50-day moving average is $38.51 and its 200-day moving average is $37.51. The company has a market cap of $437.6 million and a price-to-earnings ratio of 17.92.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.71 by $0.01. The company had revenue of $105.00 million for the quarter, compared to the consensus estimate of $104.35 million. During the same quarter last year, the company posted $0.51 earnings per share. Kadant’s revenue was up 27.5% compared to the same quarter last year. On average, analysts predict that Kadant will post $2.64 earnings per share for the current fiscal year.
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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