Insider Selling: Kadant Inc. (NYSE:KAI) Director Sells 1,879 Shares of Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 1,879 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $100.00, for a total transaction of $187,900.00. Following the sale, the director now owns 14,965 shares of the company’s stock, valued at $1,496,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE KAI opened at $100.26 on Monday. The firm’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $87.37. The stock has a market cap of $1.09 billion, a PE ratio of 16.97 and a beta of 1.29. Kadant Inc. has a fifty-two week low of $76.44 and a fifty-two week high of $103.01. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.34 and a current ratio of 5.87.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The firm had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.94 million. Kadant had a net margin of 9.00% and a return on equity of 16.76%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, sell-side analysts predict that Kadant Inc. will post 5.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%.

KAI has been the topic of several recent research reports. ValuEngine raised shares of Kadant from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of Kadant from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barrington Research set a $107.00 target price on shares of Kadant and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $100.03.

Large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Kadant during the second quarter worth $84,000. Tower Research Capital LLC TRC lifted its holdings in shares of Kadant by 838.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,230 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 1,099 shares during the period. SG Americas Securities LLC acquired a new position in shares of Kadant during the second quarter worth $173,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Kadant during the second quarter worth $262,000. Finally, Jane Street Group LLC acquired a new position in shares of Kadant during the second quarter worth $282,000. Institutional investors own 93.58% of the company’s stock.

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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Insider Buying and Selling by Quarter for Kadant (NYSE:KAI)

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