Fredrik H. Westerhout Sells 600 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the transaction, the vice president now directly owns 1,437 shares of the company’s stock, valued at $570,848.25. This trade represents a 29.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Kadant Trading Down 0.7 %

Shares of KAI stock opened at $392.76 on Thursday. The company has a market capitalization of $4.61 billion, a P/E ratio of 40.20 and a beta of 1.21. Kadant Inc. has a 12-month low of $249.51 and a 12-month high of $422.54. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $343.64 and a 200 day moving average price of $315.87.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to analyst estimates of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $2.69 earnings per share. Research analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant’s dividend payout ratio is currently 13.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KAI shares. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson upped their price target on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Institutional Trading of Kadant

Several large investors have recently made changes to their positions in KAI. Westside Investment Management Inc. bought a new position in shares of Kadant in the third quarter valued at about $31,000. Virtu Financial LLC bought a new position in shares of Kadant in the third quarter worth about $444,000. DF Dent & Co. Inc. lifted its position in shares of Kadant by 64.1% during the third quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company’s stock worth $28,109,000 after purchasing an additional 32,491 shares in the last quarter. State Street Corp grew its stake in shares of Kadant by 2.3% during the third quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after purchasing an additional 6,412 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Kadant by 1.6% during the third quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after purchasing an additional 2,068 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

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.