Kadant Inc. (NYSE:KAI) VP Sandra L. Lambert sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $100.01, for a total transaction of $400,040.00. Following the transaction, the vice president now owns 19,257 shares in the company, valued at $1,925,892.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Kadant Inc. (NYSE KAI) traded down $0.80 on Thursday, hitting $97.85. 35,700 shares of the company were exchanged, compared to its average volume of 47,550. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35. The company has a market capitalization of $1,085.87, a P/E ratio of 28.95 and a beta of 1.37. Kadant Inc. has a twelve month low of $56.15 and a twelve month high of $114.00.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. The business had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 14.84%. Kadant’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. equities analysts anticipate that Kadant Inc. will post 4.39 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Kadant by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 8,302 shares of the industrial products company’s stock worth $625,000 after buying an additional 92 shares during the last quarter. Citigroup Inc. increased its stake in Kadant by 24.2% in the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 275 shares in the last quarter. AlphaOne Investment Services LLC increased its stake in Kadant by 0.8% in the second quarter. AlphaOne Investment Services LLC now owns 44,943 shares of the industrial products company’s stock valued at $3,380,000 after purchasing an additional 350 shares in the last quarter. Voya Investment Management LLC increased its stake in Kadant by 6.3% in the second quarter. Voya Investment Management LLC now owns 6,861 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 408 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Kadant by 3.0% in the second quarter. California Public Employees Retirement System now owns 17,300 shares of the industrial products company’s stock valued at $1,301,000 after purchasing an additional 500 shares in the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on KAI. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Sidoti downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $104.67.
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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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