StockNews.com Lowers Kadant (NYSE:KAI) to Buy

Kadant (NYSE:KAIGet Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Barrington Research cut their target price on shares of Kadant from $239.00 to $229.00 in a research note on Thursday, November 3rd.

Kadant Price Performance

KAI opened at $188.57 on Tuesday. Kadant has a 12-month low of $154.19 and a 12-month high of $240.47. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.20 billion, a P/E ratio of 18.51, a PEG ratio of 2.71 and a beta of 1.16. The stock has a fifty day moving average of $173.01 and a 200-day moving average of $182.13.

Insiders Place Their Bets

In other Kadant news, Director William P. Tully sold 252 shares of Kadant stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $169.70, for a total transaction of $42,764.40. Following the completion of the sale, the director now directly owns 3,329 shares in the company, valued at $564,931.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William P. Tully sold 252 shares of the 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 owns 3,329 shares in the company, valued at approximately $564,931.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Albertine sold 1,200 shares of the firm’s 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 completion of the transaction, the director now directly owns 6,813 shares of the company’s stock, valued at $1,158,210. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,957 shares of company stock valued at $333,301. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Kadant

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Kadant in the 1st quarter valued at about $26,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Kadant by 182.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 192 shares of the industrial products company’s stock valued at $32,000 after buying an additional 124 shares during the period. Lazard Asset Management LLC acquired a new position in Kadant during the first quarter worth $47,000. Harbor Investment Advisory LLC raised its holdings in shares of Kadant by 48.3% in the third quarter. Harbor Investment Advisory LLC now owns 513 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 167 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of Kadant in the third quarter valued at $95,000. 96.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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