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William P. Tully Sells 252 Shares of Kadant Inc. (NYSE:KAI) Stock

kopsource · Oct 3, 2022 17:22

Kadant Inc. (NYSE:KAI – Get Rating) Director William P. Tully sold 252 shares of the firm's stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $169.70, for a total value of $42,764.40. Following the transaction, the director now directly owns 3,329 shares of the company's stock, valued at approximately $564,931.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Kadant Stock Up 3.3 %

KAI traded up $5.43 during trading on Monday, hitting $172.24. 44,092 shares of the company's stock traded hands, compared to its average volume of 37,779. The company's 50 day simple moving average is $185.93 and its two-hundred day simple moving average is $187.11. The company has a current ratio of 1.85, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Kadant Inc. has a 12-month low of $165.37 and a 12-month high of $240.47. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.33 and a beta of 1.17.

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Kadant (NYSE:KAI – Get Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $2.24 EPS for the quarter, beating 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%. Analysts predict that Kadant Inc. will post 8.97 earnings per share for the current fiscal year.

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 paid a $0.26 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 10.84%.

Hedge Funds Weigh In On Kadant

A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Kadant by 1.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,536 shares of the industrial products company's stock worth $654,000 after purchasing an additional 63 shares during the period. Nisa Investment Advisors LLC raised its holdings in Kadant by 4.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,974 shares of the industrial products company's stock worth $542,000 after purchasing an additional 120 shares during the period. Russell Investments Group Ltd. bought a new position in Kadant in the 1st quarter worth $26,000. Teacher Retirement System of Texas raised its holdings in Kadant by 6.5% in the 1st quarter. Teacher Retirement System of Texas now owns 2,408 shares of the industrial products company's stock worth $468,000 after purchasing an additional 146 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in Kadant by 11.3% in the 1st quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company's stock worth $333,000 after purchasing an additional 175 shares during the period. 96.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barrington Research cut their target price on Kadant from $248.00 to $239.00 and set an "outperform" rating on the stock in a research note on Monday, September 19th.

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.