Kadant (NYSE:KAI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other equities research analysts have also recently commented on KAI. Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research note on Tuesday, October 3rd. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $104.67.

Kadant (NYSE KAI) traded down $3.95 during midday trading on Monday, reaching $98.05. The company had a trading volume of 51,763 shares, compared to its average volume of 59,890. Kadant has a fifty-two week low of $56.15 and a fifty-two week high of $114.00. The firm has a market capitalization of $1,122.75, a PE ratio of 25.37 and a beta of 1.36. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84.

Kadant (NYSE:KAI) last released its earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, topping the 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 business had revenue of $152.79 million during the quarter, compared to analysts’ expectations of $141.33 million. During the same quarter last year, the firm posted $0.81 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. sell-side analysts predict that Kadant will post 4.39 earnings per share for the current year.

In related news, VP Sandra L. Lambert sold 6,437 shares of Kadant stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total transaction of $699,444.42. Following the transaction, the vice president now owns 20,942 shares of the company’s stock, valued at $2,275,557.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.60, for a total value of $112,000.00. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The disclosure for this sale can be found here. Insiders sold 27,687 shares of company stock valued at $2,887,844 in the last three months. Insiders own 5.59% of the company’s stock.

Several large investors have recently made changes to their positions in KAI. Teachers Advisors LLC boosted its position 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 buying an additional 117,641 shares during the last quarter. Cortina Asset Management LLC boosted its position in shares of Kadant by 107.8% during the third quarter. Cortina Asset Management LLC now owns 182,124 shares of the industrial products company’s stock valued at $17,948,000 after buying an additional 94,500 shares during the last quarter. Pier Capital LLC bought a new stake in Kadant during the third quarter worth $6,105,000. Epoch Investment Partners Inc. lifted its holdings in Kadant by 62.1% during the second quarter. Epoch Investment Partners Inc. now owns 154,196 shares of the industrial products company’s stock worth $11,596,000 after acquiring an additional 59,097 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Kadant by 12.7% during the third quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock worth $49,960,000 after acquiring an additional 57,222 shares during the period. 90.99% of the stock is currently owned by institutional investors.

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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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