Kadant Inc. (NYSE:KAI – Get Free Report) Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Kadant Price Performance
Kadant stock opened at $331.43 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 34.52 and a beta of 1.21. The firm has a 50-day moving average of $319.99 and a two-hundred day moving average of $303.71. Kadant Inc. has a 1 year low of $214.21 and a 1 year high of $363.40.
Kadant (NYSE:KAI – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. Kadant’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. On average, research analysts forecast that Kadant Inc. will post 9.93 earnings per share for the current year.
Kadant Dividend Announcement
Wall Street Analyst Weigh In
Several brokerages have issued reports on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Friday, September 20th. DA Davidson raised their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.
View Our Latest Analysis on Kadant
Institutional Trading of Kadant
A number of hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Kadant in the 2nd quarter valued at about $615,000. Algert Global LLC bought a new position in Kadant in the second quarter worth approximately $347,000. Susquehanna Fundamental Investments LLC lifted its holdings in Kadant by 175.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 5,627 shares of the industrial products company’s stock worth $1,653,000 after buying an additional 3,584 shares during the period. Select Equity Group L.P. boosted its position in Kadant by 0.7% during the 2nd quarter. Select Equity Group L.P. now owns 13,525 shares of the industrial products company’s stock valued at $3,973,000 after acquiring an additional 91 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Kadant by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,651 shares of the industrial products company’s stock valued at $1,954,000 after acquiring an additional 194 shares during the period. 96.13% of the stock is 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.
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