Dara F. Mitchell Sells 1,307 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) VP Dara F. Mitchell sold 1,307 shares of Kadant stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $219.73, for a total value of $287,187.11. Following the sale, the vice president now owns 508 shares in the company, valued at $111,622.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kadant Price Performance

KAI opened at $220.50 on Friday. Kadant Inc. has a 1 year low of $154.19 and a 1 year high of $229.90. The stock has a 50-day moving average price of $214.79 and a 200-day moving average price of $206.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.04 and a quick ratio of 1.22. The firm has a market cap of $2.58 billion, a PE ratio of 23.16 and a beta of 1.22.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.42. Kadant had a return on equity of 16.98% and a net margin of 11.96%. The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $231.14 million. During the same quarter in the previous year, the firm earned $2.24 EPS. Kadant’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts predict that Kadant Inc. will post 9.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kadant

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. raised its position 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 buying an additional 55,595 shares during the last quarter. BlackRock Inc. increased its position in shares of Kadant by 4.8% during the 2nd quarter. BlackRock Inc. now owns 912,175 shares of the industrial products company’s stock valued at $202,594,000 after purchasing an additional 42,069 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Kadant by 1.8% during the 1st quarter. Neuberger Berman Group LLC now owns 865,788 shares of the industrial products company’s stock valued at $180,534,000 after purchasing an additional 15,503 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kadant by 1.4% during the 3rd 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. Finally, Capital International Investors increased its position in shares of Kadant by 20.9% during the 2nd quarter. Capital International Investors now owns 612,359 shares of the industrial products company’s stock valued at $136,005,000 after purchasing an additional 106,009 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

KAI has been the topic of several analyst reports. Barrington Research reissued an “outperform” rating and issued a $243.00 target price on shares of Kadant in a report on Friday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research report on Friday, July 7th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Kadant in a research report on Monday, May 8th. Finally, StockNews.com began coverage on Kadant in a research report on Thursday, August 17th. They issued a “buy” rating for the company.

Kadant Company Profile

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.