Kadant Inc. (NYSE:KAI) Director Erin L. Russell Sells 1,112 Shares of Stock

Kadant Inc. (NYSE:KAIGet Free Report) Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $279.25, for a total value of $310,526.00. Following the transaction, the director now directly owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kadant Trading Down 1.6 %

NYSE:KAI opened at $275.35 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05. Kadant Inc. has a 1 year low of $196.99 and a 1 year high of $354.02. The stock has a market cap of $3.23 billion, a P/E ratio of 28.68 and a beta of 1.25. The stock has a 50-day simple moving average of $288.01 and a 200-day simple moving average of $289.78.

Kadant (NYSE:KAIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. The firm had revenue of $248.98 million during the quarter, compared to the consensus estimate of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.40 earnings per share. As a group, analysts anticipate that Kadant Inc. will post 10.01 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio (DPR) is 13.33%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a report on Monday, April 29th. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th.

Get Our Latest Report on KAI

Institutional Investors Weigh In On Kadant

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Headinvest LLC purchased a new position in shares of Kadant during the third quarter worth about $25,000. Benjamin F. Edwards & Company Inc. purchased a new position in Kadant during the 1st quarter worth approximately $28,000. Parallel Advisors LLC increased 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 worth $30,000 after buying an additional 39 shares during the period. First Horizon Advisors Inc. lifted its stake in Kadant by 37.0% in 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 during the last quarter. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Kadant in the fourth quarter valued at approximately $54,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

Kadant Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.