Short Interest in Kadant Inc. (NYSE:KAI) Drops By 7.5%

Kadant Inc. (NYSE:KAIGet Free Report) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 860,400 shares, a decline of 7.5% from the February 29th total of 929,700 shares. Approximately 7.4% of the company’s shares are sold short. Based on an average daily volume of 94,800 shares, the days-to-cover ratio is currently 9.1 days.

Insider Buying and Selling at Kadant

In other news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the transaction, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Kadant news, Director Thomas C. Leonard sold 217 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the sale, the director now directly owns 7,615 shares in the company, valued at $2,514,853.75. The disclosure for this sale can be found here. Insiders have sold 8,798 shares of company stock worth $2,899,004 in the last ninety days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Kadant

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Kadant by 37.0% during the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System lifted its position in Kadant by 1.6% during the third quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company’s stock valued at $752,000 after buying an additional 53 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Kadant by 70.4% during the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock valued at $29,000 after buying an additional 57 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Kadant by 3.1% during the fourth quarter. Amalgamated Bank now owns 1,925 shares of the industrial products company’s stock valued at $342,000 after buying an additional 57 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Stock Down 1.6 %

KAI stock opened at $328.10 on Monday. Kadant has a one year low of $183.19 and a one year high of $354.02. The stock has a market capitalization of $3.85 billion, a PE ratio of 33.14 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05. The company has a fifty day moving average of $312.98 and a 200-day moving average of $271.73.

Kadant (NYSE:KAIGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The firm had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $227.54 million. As a group, analysts expect that Kadant will post 9.98 EPS for the current year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.39%. This is an increase from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 9th. Kadant’s payout ratio is presently 11.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Barrington Research reissued an “outperform” rating and issued a $300.00 price objective on shares of Kadant in a research report on Wednesday, February 14th.

Read Our Latest Stock Analysis on KAI

Kadant Company Profile

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Kadant Inc supplies technologies and engineered systems worldwide. It operates in 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, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.

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