Insider Selling: Kadant Inc. (NYSE:KAI) CFO Sells $274,641.40 in Stock

Financial News Live · Mar 24, 2023 06:02

Kadant Inc. (NYSE:KAI – Get Rating) CFO Michael J. Mckenney sold 1,364 shares of the firm's stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $201.35, for a total transaction of $274,641.40. Following the transaction, the chief financial officer now directly owns 21,988 shares of the company's stock, valued at $4,427,283.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kadant Price Performance

Shares of NYSE KAI opened at $198.89 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.85 and a beta of 1.21. Kadant Inc. has a 12 month low of $154.19 and a 12 month high of $221.27. The firm's 50 day simple moving average is $206.09 and its 200-day simple moving average is $187.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.95 and a quick ratio of 1.18.

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Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The industrial products company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.33. The business had revenue of $232.10 million for the quarter, compared to analysts' expectations of $219.09 million. Kadant had a net margin of 13.37% and a return on equity of 17.48%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. Analysts expect that Kadant Inc. will post 8.91 EPS for the current year.

Kadant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 12th will be paid a dividend of $0.29 per share. This is a boost from Kadant's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.58%. Kadant's dividend payout ratio (DPR) is presently 10.05%.

Institutional Investors Weigh In On Kadant

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its stake in Kadant by 3.1% in the 4th quarter. Amalgamated Bank now owns 1,925 shares of the industrial products company's stock valued at $342,000 after acquiring an additional 57 shares during the period. Signaturefd LLC grew its stake in Kadant by 58.6% in the 4th quarter. Signaturefd LLC now owns 157 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 58 shares during the period. Harbor Investment Advisory LLC grew its stake in Kadant by 15.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 592 shares of the industrial products company's stock valued at $105,000 after acquiring an additional 79 shares during the period. Trexquant Investment LP grew its stake in Kadant by 3.9% in the 3rd quarter. Trexquant Investment LP now owns 2,137 shares of the industrial products company's stock valued at $356,000 after acquiring an additional 80 shares during the period. Finally, CWM LLC grew its stake in Kadant by 23.0% in the 4th quarter. CWM LLC now owns 439 shares of the industrial products company's stock valued at $78,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 95.84% of the company's stock.

Wall Street Analysts Forecast Growth

KAI has been the subject of a number of recent research reports. StockNews.com raised shares of Kadant from a "hold" rating to a "buy" rating in a research report on Wednesday. DA Davidson raised their price target on shares of Kadant from $182.00 to $205.00 in a research report on Friday, February 17th. Finally, Barrington Research reissued an "outperform" rating and set a $229.00 price target on shares of Kadant in a research report on Monday, February 13th.

Kadant Company Profile

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Kadant Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The firm's products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.