Kadant Inc. (NYSE:KAI) CEO Jonathan W. Painter sold 5,287 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $88.33, for a total transaction of $467,000.71. Following the transaction, the chief executive officer now owns 94,182 shares in the company, valued at $8,319,096.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Kadant stock traded up $0.95 on Friday, reaching $89.56. 4,532 shares of the stock were exchanged, compared to its average volume of 65,504. Kadant Inc. has a one year low of $76.44 and a one year high of $111.85. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.94. The company has a market cap of $986.93 million, a PE ratio of 16.06 and a beta of 1.21.
Kadant (NYSE:KAI) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.11. Kadant had a net margin of 9.22% and a return on equity of 17.26%. The company had revenue of $171.30 million during the quarter, compared to the consensus estimate of $164.37 million. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Kadant Inc. will post 5.31 earnings per share for the current year.
Several institutional investors have recently modified their holdings of KAI. Rhumbline Advisers increased its holdings in Kadant by 4.7% in the 1st quarter. Rhumbline Advisers now owns 21,702 shares of the industrial products company’s stock worth $1,909,000 after acquiring an additional 978 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Kadant in the fourth quarter valued at $81,000. Aptus Capital Advisors LLC purchased a new position in shares of Kadant in the fourth quarter valued at $241,000. D. E. Shaw & Co. Inc. grew its holdings 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 valued at $265,000 after purchasing an additional 285 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 valued at $8,661,000 after purchasing an additional 5,487 shares in the last quarter. 92.49% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the stock. Seaport Global Securities lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $97.09 price objective on the stock. in a research note on Thursday, May 2nd. Zacks Investment Research raised shares of Kadant from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. ValuEngine raised shares of Kadant from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Barrington Research reissued a “buy” rating and issued a $110.00 price objective on shares of Kadant in a report on Tuesday, February 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Kadant has a consensus rating of “Hold” and a consensus target price of $103.55.
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Kadant Company Profile
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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