Kadant Inc. (NYSE:KAI) CEO Jeffrey L. Powell Sells 1,000 Shares

Kadant Inc. (NYSE:KAI) CEO Jeffrey L. Powell sold 1,000 shares of the stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $203.01, for a total transaction of $203,010.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

KAI traded down $2.24 on Wednesday, hitting $200.07. The company’s stock had a trading volume of 26,952 shares, compared to its average volume of 36,726. The company’s 50 day simple moving average is $208.27 and its 200-day simple moving average is $187.60. The firm has a market cap of $2.32 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 3.64 and a beta of 1.34. Kadant Inc. has a 12 month low of $109.14 and a 12 month high of $225.64. The company has a quick ratio of 1.81, a current ratio of 2.52 and a debt-to-equity ratio of 0.51.

Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, August 3rd. The industrial products company reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.50. The company had revenue of $195.81 million during the quarter, compared to the consensus estimate of $178.07 million. Kadant had a net margin of 10.19% and a return on equity of 14.66%. Equities analysts predict that Kadant Inc. will post 7.41 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 11th. Investors of record on Thursday, October 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, October 13th. Kadant’s dividend payout ratio (DPR) is presently 20.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC purchased a new stake in Kadant in the 2nd quarter worth approximately $29,000. Advisory Services Network LLC purchased a new stake in Kadant in the 2nd quarter worth approximately $31,000. Pflug Koory LLC purchased a new stake in Kadant in the 2nd quarter worth approximately $44,000. Advisor Group Holdings Inc. lifted its stake in Kadant by 37.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 314 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 86 shares in the last quarter. Finally, Sageworth Trust Co purchased a new stake in Kadant in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 93.28% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $230.00 target price for the company in a research report on Tuesday, August 10th. Barrington Research reissued a “buy” rating and set a $240.00 target price on shares of Kadant in a research report on Thursday, September 30th.

Kadant Company Profile

Kadant, Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.

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