Insider Selling: Kadant Inc (KAI) CFO Sells 3,600 Shares of Stock
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.
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.
COPYRIGHT VIOLATION WARNING: This article was first posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/13/insider-selling-kadant-inc-kai-cfo-sells-3600-shares-of-stock.html.
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.
Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.