Michael J. Mckenney Sells 2,335 Shares of Kadant Inc. (NYSE:KAI) Stock

Posted by Defense World Staff on Mar 18th, 2023

Kadant Inc. (NYSE:KAI – Get Rating) CFO Michael J. Mckenney sold 2,335 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $207.73, for a total transaction of $485,049.55. Following the sale, the chief financial officer now owns 24,653 shares in the company, valued at $5,121,167.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Kadant Stock Performance

NYSE:KAI opened at $197.10 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.30 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.87 and a beta of 1.21. The firm has a 50-day moving average price of $205.34 and a two-hundred day moving average price of $187.15. Kadant Inc. has a twelve month low of $154.19 and a twelve month high of $221.27.

Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.33. The firm had revenue of $232.10 million during the quarter, compared to the consensus estimate of $219.09 million. Kadant had a return on equity of 17.48% and a net margin of 13.37%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. As a group, research analysts expect that Kadant Inc. will post 8.91 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Wednesday, April 12th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 11th. This is a boost from Kadant’s previous quarterly dividend of $0.26. Kadant’s dividend payout ratio (DPR) is currently 10.05%.

Wall Street Analyst Weigh In

A number of analysts recently commented on KAI shares. Barrington Research reissued an “outperform” rating and set a $229.00 price objective on shares of Kadant in a report on Monday, February 13th. DA Davidson upped their price target on Kadant from $182.00 to $205.00 in a report on Friday, February 17th. Finally, StockNews.com downgraded Kadant from a “buy” rating to a “hold” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KAI. Wasatch Advisors Inc. grew its stake in Kadant by 3.6% in the 1st quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company’s stock worth $312,399,000 after acquiring an additional 55,595 shares during the period. Neuberger Berman Group LLC grew its position in shares of Kadant by 5.8% in the third quarter. Neuberger Berman Group LLC now owns 859,408 shares of the industrial products company’s stock valued at $143,358,000 after purchasing an additional 47,430 shares during the period. Vanguard Group Inc. increased its stake in Kadant by 1.4% in the third quarter. Vanguard Group Inc. now owns 622,495 shares of the industrial products company’s stock valued at $103,839,000 after purchasing an additional 8,394 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its position in Kadant by 11.1% during the third quarter. Chevy Chase Trust Holdings LLC now owns 575,067 shares of the industrial products company’s stock worth $95,927,000 after buying an additional 57,365 shares during the period. Finally, Royce & Associates LP boosted its stake in Kadant by 4.2% in the 3rd quarter. Royce & Associates LP now owns 501,426 shares of the industrial products company’s stock worth $83,643,000 after buying an additional 20,196 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

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.