Kadant Inc. (NYSE:KAI – Get Rating) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $165.20 and last traded at $166.05, with a volume of 1001 shares traded. The stock had previously closed at $169.18.
Analyst Upgrades and Downgrades
Separately, Barrington Research lowered their price target on Kadant from $248.00 to $239.00 and set an "outperform" rating for the company in a research report on Monday, September 19th.
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Kadant Price Performance
The stock has a 50 day simple moving average of $188.02 and a two-hundred day simple moving average of $187.90. The firm has a market cap of $1.95 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.85.
Kadant (NYSE:KAI – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.27. The business had revenue of $221.65 million during the quarter, compared to analyst estimates of $219.37 million. Kadant had a return on equity of 17.77% and a net
margin of 12.92%. Sell-side analysts expect that Kadant Inc. will post 8.97 earnings per share for the current year.
Kadant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.62%. Kadant's dividend payout ratio is presently 10.84%.
Insider Activity at Kadant
In related news, Director William P. Tully sold 505 shares of Kadant stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $171.36, for a total value of $86,536.80. Following the completion of the transaction, the director now owns 3,346 shares in the company, valued at approximately $573,370.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John M. Albertine sold 1,200 shares of Kadant 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 transaction, the director now owns 6,813 shares in the company, valued at approximately $1,158,210. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William P. Tully sold 505 shares of Kadant stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $171.36, for a total value of $86,536.80. Following the completion of the transaction, the director now owns 3,346 shares of the company's stock, valued at approximately $573,370.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Kadant
Several large investors have recently bought and sold shares of KAI. Russell Investments Group Ltd. purchased a new stake in Kadant during the 1st quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new stake in Kadant during the 1st quarter worth approximately $47,000. Asset Management One Co. Ltd. purchased a new stake in Kadant during the 2nd quarter worth approximately $124,000. Hardy Reed LLC purchased a new stake in Kadant during the 1st quarter worth approximately $125,000. Finally, New York State Teachers Retirement System purchased a new stake in Kadant during the 1st quarter worth approximately $194,000. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
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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