Thomas C. Leonard Sells 152 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 152 shares of Kadant stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the completion of the sale, the director now owns 4,250 shares of the company’s stock, valued at $1,692,392.50. The trade was a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kadant Price Performance

KAI opened at $408.42 on Friday. The firm has a market capitalization of $4.79 billion, a PE ratio of 41.80 and a beta of 1.21. The business’s 50-day moving average is $345.53 and its two-hundred day moving average is $316.51. Kadant Inc. has a 1 year low of $249.51 and a 1 year high of $422.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm 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%. Kadant’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.69 EPS. Research analysts anticipate that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 annualized dividend and a yield of 0.31%. Kadant’s dividend payout ratio (DPR) is 13.10%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Kadant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KAI. Ashton Thomas Securities LLC acquired a new position in shares of Kadant during the third quarter valued at about $25,000. Icon Wealth Advisors LLC acquired a new position in Kadant during the 3rd quarter valued at approximately $28,000. Westside Investment Management Inc. purchased a new position in shares of Kadant in the third quarter worth $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant during the second quarter worth $29,000. Finally, Park Place Capital Corp increased its position in shares of Kadant by 68.6% in the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 83 shares during the period. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

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.