Kadant Inc (NYSE:KAI) CFO Michael J. Mckenney sold 3,600 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $99.14, for a total value of $356,904.00. Following the completion of the sale, the chief financial officer now directly owns 19,160 shares of the company’s stock, valued at $1,899,522.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kadant Inc (KAI) traded down $1.35 during trading hours on Wednesday, reaching $96.70. The company had a trading volume of 106,100 shares, compared to its average volume of 60,083. The firm has a market cap of $1,079.27, a PE ratio of 24.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. Kadant Inc has a 1-year low of $56.15 and a 1-year high of $114.00.

Kadant (NYSE:KAI) last released its quarterly 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. The business had revenue of $152.79 million during the quarter, compared to analysts’ expectations of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. equities research analysts predict that Kadant Inc will post 4.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be issued 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 0.87%. Kadant’s payout ratio is currently 24.85%.

A number of analysts have recently issued reports on KAI shares. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price objective for the company in a research report on Thursday, November 2nd. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $104.67.

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its holdings 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 purchasing an additional 275 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Kadant during the 2nd quarter worth approximately $127,000. BNP Paribas Arbitrage SA lifted its holdings 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 purchasing an additional 1,530 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Kadant during the 2nd quarter worth approximately $150,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Kadant during the 2nd quarter worth approximately $176,000. 90.99% of the stock is owned by institutional investors and hedge funds.

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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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