Kadant Inc. (NYSE:KAI – Get Rating) Director William P. Tully sold 252 shares of the firm's stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $169.70, for a total value of $42,764.40. Following the completion of the transaction, the director now owns 3,329 shares in the company, valued at $564,931.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Kadant Trading Up 3.3 %
Kadant stock traded up $5.43 during mid-day trading on Monday, hitting $172.24. 44,092 shares of the company's stock were exchanged, compared to its average volume of 37,779. The firm has a market capitalization of $2.01 billion, a P/E ratio of 17.39, a PEG ratio of 2.33 and a beta of 1.17. Kadant Inc. has a fifty-two week low of $165.37 and a fifty-two week high of $240.47. The company has a quick ratio of 1.12, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The company's 50 day simple moving average is $185.93 and its 200-day simple moving average is $187.11.
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Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $1.97 by $0.27. The business had revenue of $221.65 million for the quarter, compared to the consensus estimate of $219.37 million. Kadant had a return on equity of 17.77% and a net margin of 12.92%. On average, equities analysts anticipate that Kadant Inc. will post 8.97 earnings per share for the current year.
Kadant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 13th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, October 12th. Kadant's dividend payout ratio is 10.84%.
Wall Street Analyst Weigh In
Separately, Barrington Research dropped their price objective on Kadant from $248.00 to $239.00 and set an "outperform" rating on the stock in a research note on Monday, September 19th.
Institutional Trading of Kadant
Several hedge funds and other institutional investors have recently modified their holdings of KAI. Legal & General Group Plc raised its stake in shares of Kadant by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 45,163 shares of the industrial products company's stock worth $8,235,000 after purchasing an additional 2,916 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kadant by 521.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 60,104 shares of the industrial products company's stock worth $10,960,000 after buying an additional 50,432 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kadant by 2.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 259,359 shares of the industrial products company's stock worth $47,294,000 after acquiring an additional 7,231 shares during the period. Macquarie Group Ltd. grew its holdings in Kadant by 3.9% in the 2nd quarter. Macquarie Group Ltd. now owns 420,326 shares of the industrial products company's stock valued at $76,646,000 after buying an additional 15,927 shares in the last quarter. Finally, Sei Investments Co. increased its position in Kadant by 2.0% during the 2nd quarter. Sei Investments Co. now owns 52,091 shares of the industrial products company's stock worth $9,498,000 after buying an additional 1,007 shares during the period. Institutional investors and hedge funds own 96.40% of the company's stock.
About Kadant
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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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