Kadant Inc. (NYSE:KAI) Director John M. Albertine Sells 1,200 Shares of Stock

Kadant Inc. (NYSE:KAIGet Rating) Director John M. Albertine sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $170.00, for a total transaction of $204,000.00. Following the completion of the sale, the director now owns 6,813 shares of the company’s stock, valued at $1,158,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kadant Price Performance

Shares of KAI opened at $173.03 on Tuesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 2.38 and a beta of 1.21. Kadant Inc. has a twelve month low of $165.37 and a twelve month high of $240.47. The company has a quick ratio of 1.12, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $189.12 and a two-hundred day moving average of $188.85.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 13th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. Kadant’s payout ratio is currently 10.84%.

Institutional Investors Weigh In On Kadant

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of Kadant by 1.8% during the first quarter. Victory Capital Management Inc. now owns 3,536 shares of the industrial products company’s stock worth $654,000 after buying an additional 63 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Kadant by 4.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,974 shares of the industrial products company’s stock worth $542,000 after buying an additional 120 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Kadant during the first quarter worth $26,000. Teacher Retirement System of Texas lifted its stake in shares of Kadant by 6.5% during the first quarter. Teacher Retirement System of Texas now owns 2,408 shares of the industrial products company’s stock worth $468,000 after buying an additional 146 shares during the period. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Kadant by 29.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 717 shares of the industrial products company’s stock worth $167,000 after buying an additional 164 shares during the period. 96.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research lowered their target price on shares of Kadant from $248.00 to $239.00 and set an “outperform” rating for the company in a research note on Monday.

Kadant Company Profile

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Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

Further Reading

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

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