According to Zacks, “Kadant Inc. is a leading supplier of a range of products and systems for the global papermaking and paper-recycling industries, including de-inking systems, stock-preparation equipment, water-management systems, and papermaking accessories. Through its majority-owned Thermo Fibergen subsidiary, the company also develops and commercializes composite building materials produced from natural fiber and recycled plastic. Kadant is a public subsidiary of Thermo Electron Corporation.(Press Release) “
A number of other analysts have also recently weighed in on KAI. ValuEngine raised Kadant from a sell rating to a hold rating in a research report on Thursday, April 4th. Barrington Research reaffirmed a buy rating and issued a $110.00 price target on shares of Kadant in a research report on Tuesday, February 26th. Finally, Seaport Global Securities cut Kadant from a buy rating to a neutral rating and set a $97.09 price target for the company. in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Kadant presently has an average rating of Hold and a consensus target price of $103.55.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Kadant had a return on equity of 17.26% and a net margin of 9.22%. The company had revenue of $171.30 million during the quarter, compared to analysts’ expectations of $164.37 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Kadant will post 5.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.05%.
In other news, insider Michael J. Mckenney sold 2,261 shares of Kadant stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $86.12, for a total value of $194,717.32. Following the transaction, the insider now directly owns 17,318 shares in the company, valued at $1,491,426.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William P. Tully sold 1,500 shares of Kadant stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $88.36, for a total value of $132,540.00. Following the completion of the transaction, the director now owns 5,200 shares in the company, valued at $459,472. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in shares of Kadant in the fourth quarter worth about $81,000. Aptus Capital Advisors LLC bought a new position in shares of Kadant in the fourth quarter worth about $241,000. Bank of New York Mellon Corp increased its stake in shares of Kadant by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 106,323 shares of the industrial products company’s stock worth $8,661,000 after purchasing an additional 5,487 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Kadant by 9.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,247 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 285 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Kadant by 5.8% in the fourth quarter. First Trust Advisors LP now owns 35,863 shares of the industrial products company’s stock worth $2,921,000 after purchasing an additional 1,953 shares during the period. Institutional investors and hedge funds own 92.63% of the company’s stock.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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