Kadant Inc (NYSE:KAI) Director William P. Tully sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.60, for a total transaction of $112,000.00. Following the completion of the transaction, the director now owns 5,250 shares of the company’s stock, valued at $470,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Kadant Inc (KAI) traded up 0.80% during midday trading on Tuesday, reaching $94.30. 161,816 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 31.13 and a beta of 1.33. The stock’s 50-day moving average is $86.02 and its 200-day moving average is $73.23. Kadant Inc has a 12-month low of $49.20 and a 12-month high of $95.05.
Kadant (NYSE:KAI) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.13. The company had revenue of $110.24 million during the quarter, compared to analysts’ expectations of $113.49 million. Kadant had a net margin of 8.10% and a return on equity of 12.68%. Kadant’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Kadant Inc will post $4.03 earnings per share for the current year.
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KAI has been the subject of a number of recent analyst reports. Barrington Research boosted their price objective on shares of Kadant from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Sidoti restated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Kadant in a report on Saturday, June 3rd. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine upgraded shares of Kadant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $93.00.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. raised its holdings in shares of Kadant by 24.2% in the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Kadant in the second quarter worth $127,000. BNP Paribas Arbitrage SA raised its holdings in shares of Kadant by 718.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,530 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Kadant in the second quarter worth $150,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Kadant in the second quarter worth $176,000. 90.69% of the stock is owned by institutional investors and hedge funds.
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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