Kadant (NYSE:KAI – Get Rating) had its target price cut by Barrington Research from $248.00 to $239.00 in a research report report published on Monday, The Fly reports. They currently have an outperform rating on the industrial products company's stock.
Kadant Trading Up 1.6 %
Shares of NYSE:KAI opened at $173.03 on Monday. The company has a 50 day moving average of $189.12 and a 200-day moving average of $188.85. The firm has a market cap of $2.02 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.38 and a beta of 1.21. Kadant has a twelve month low of $165.37 and a twelve month high of $240.47. The company has a current ratio of 1.85, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.
Get Kadant alerts:Kadant Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 13th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Kadant's dividend payout ratio is currently 10.84%.
Insider Buying and Selling at Kadant
In other news, Director John M. Albertine sold 1,200 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $170.00, for a total transaction of $204,000.00. Following 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 accessible through the SEC website. In other news, Director William P. Tully sold 505 shares of the stock in a transaction on 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 in the company, valued at approximately $573,370.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John M. Albertine sold 1,200 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $170.00, for a total transaction of $204,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,158,210. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.Institutional Investors Weigh In On Kadant
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Kadant by 1.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,536 shares of the industrial products company's stock worth $654,000 after acquiring an additional 63 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Kadant by 4.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,974 shares of the industrial products company's stock worth $542,000 after buying an additional 120 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Kadant during the first quarter worth $26,000. Teacher Retirement System of Texas increased its holdings in Kadant by 6.5% during the first quarter. Teacher Retirement System of Texas now owns 2,408 shares of the industrial products company's stock worth $468,000 after buying an additional 146 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in Kadant by 29.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 717 shares of the industrial products company's stock worth $167,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 96.40% of the company's stock.
Kadant Company Profile
(Get Rating)
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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