Insider Selling: Kadant Inc (KAI) VP Sells 6,437 Shares of Stock
Kadant Inc (NYSE:KAI) VP Sandra L. Lambert sold 6,437 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total value of $699,444.42. Following the completion of the transaction, the vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $2,275,557.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Kadant Inc (NYSE:KAI) traded down $3.40 during trading on Friday, hitting $106.35. The stock had a trading volume of 62,935 shares, compared to its average volume of 81,770. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 27.00 and a beta of 1.43.
Kadant (NYSE:KAI) last announced its earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.14 by $0.35. Kadant had a return on equity of 15.26% and a net margin of 8.17%. The business had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. During the same period in the prior year, the business posted $0.81 earnings per share. Kadant’s revenue was up 44.8% compared to the same quarter last year. sell-side analysts forecast that Kadant Inc will post 4.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, October 11th. Kadant’s dividend payout ratio is 24.85%.
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Several research analysts have recently issued reports on KAI shares. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a report on Tuesday, October 3rd. Finally, BidaskClub lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $104.67.
Several hedge funds and other institutional investors have recently made changes to their positions in KAI. Teachers Advisors LLC lifted its holdings in shares of Kadant by 476.6% during the second quarter. Teachers Advisors LLC now owns 142,325 shares of the industrial products company’s stock valued at $10,703,000 after purchasing an additional 117,641 shares during the last quarter. BTIM Corp. purchased a new stake in shares of Kadant during the second quarter valued at $7,562,000. Epoch Investment Partners Inc. lifted its holdings in shares of Kadant by 62.1% during the second quarter. Epoch Investment Partners Inc. now owns 154,196 shares of the industrial products company’s stock valued at $11,596,000 after purchasing an additional 59,097 shares during the last quarter. Handelsinvest Investeringsforvaltning lifted its holdings in shares of Kadant by 73.2% during the second quarter. Handelsinvest Investeringsforvaltning now owns 133,200 shares of the industrial products company’s stock valued at $10,017,000 after purchasing an additional 56,300 shares during the last quarter. Finally, Pictet Asset Management Ltd. purchased a new stake in Kadant in the 3rd quarter worth about $5,211,000. 90.93% of the stock is owned by institutional investors and hedge funds.
Kadant Company Profile
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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