Kadant Inc. (NYSE:KAI – Get Rating) Director John M. Albertine sold 1,200 shares of the company's stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $170.00, for a total value of $204,000.00. Following the completion of the sale, the director now owns 6,813 shares in the company, valued at approximately $1,158,210. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kadant Stock Performance
KAI stock traded up $2.75 during midday trading on Monday, hitting $173.03. 29,375 shares of the stock traded hands, compared to its average volume of 37,217. Kadant Inc. has a 1-year low of $165.37 and a 1-year high of $240.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.12. The stock's fifty day simple moving average is $189.30 and its 200-day simple moving average is $189.01. The firm has a market cap of $2.02 billion, a P/E ratio of 17.76, a PEG ratio of 2.38 and a beta of 1.21.
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Kadant Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, October 12th. Kadant's dividend payout ratio (DPR) is presently 10.84%.
Hedge Funds Weigh In On Kadant
Several institutional investors and hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D grew its holdings in Kadant by 7.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 12,840 shares of the industrial products company's stock valued at $2,493,000 after purchasing an additional 877 shares during the period. Strs Ohio grew its stake in Kadant by 266.7% in the 1st quarter. Strs Ohio now owns 4,400 shares of the industrial products company's stock valued at $854,000 after acquiring an additional 3,200 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Kadant by 7.6% in the 4th quarter. BNP Paribas Arbitrage SA now owns 2,487 shares of the industrial products company's stock worth $573,000 after acquiring an additional 175 shares in the last quarter. Blair William & Co. IL raised its position in Kadant by 6.1% during the fourth quarter. Blair William & Co. IL now owns 6,598 shares of the industrial products company's stock worth $1,521,000 after acquiring an additional 380 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in Kadant by 8.0% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 19,156 shares of the industrial products company's stock valued at $3,720,000 after purchasing an additional 1,422 shares in the last quarter. Hedge funds and other institutional investors own 96.40% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Barrington Research decreased their price target on Kadant from $248.00 to $239.00 and set an "outperform" rating for the company in a report on Monday.
Kadant Company Profile
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Kadant Inc supplies technologies and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.
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