Kadant (NYSE:KAI) Cut to Hold at StockNews.com

StockNews.com cut shares of Kadant (NYSE:KAI – Get Rating) from a buy rating to a hold rating in a report published on Tuesday morning.

Other equities research analysts also recently issued reports about the company. Barrington Research reissued an outperform rating and issued a $229.00 price objective on shares of Kadant in a report on Monday, February 13th. DA Davidson raised their price target on shares of Kadant from $182.00 to $205.00 in a research note on Friday, February 17th.

Kadant Stock Performance

NYSE KAI opened at $204.80 on Tuesday. Kadant has a fifty-two week low of $154.19 and a fifty-two week high of $221.27. The firm has a market capitalization of $2.39 billion, a P/E ratio of 19.79, a PEG ratio of 2.82 and a beta of 1.21. The stock has a 50-day simple moving average of $203.74 and a two-hundred day simple moving average of $186.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 1.95.

Kadant (NYSE:KAI – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.33. Kadant had a return on equity of 17.48% and a net margin of 13.37%. The business had revenue of $232.10 million during the quarter, compared to analyst estimates of $219.09 million. During the same period in the prior year, the business earned $2.31 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Kadant will post 9.21 earnings per share for the current year.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Shareholders of record on Wednesday, April 12th will be paid a dividend of $0.29 per share. This is a positive change from Kadant’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, April 11th. Kadant’s dividend payout ratio (DPR) is presently 11.21%.

Insider Activity at Kadant

In other Kadant news, SVP Stacy D. Krause sold 780 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $205.10, for a total transaction of $159,978.00. Following the completion of the sale, the senior vice president now owns 1,843 shares of the company’s stock, valued at $377,999.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Kadant

Several hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in Kadant by 58.6% during the fourth quarter. Signaturefd LLC now owns 157 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 58 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Kadant by 182.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 192 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 124 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Kadant during the 4th quarter worth approximately $33,000. CWM LLC increased its position in shares of Kadant by 23.0% during the fourth quarter. CWM LLC now owns 439 shares of the industrial products company’s stock worth $78,000 after buying an additional 82 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in Kadant by 48.3% during the third quarter. Harbor Investment Advisory LLC now owns 513 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

Kadant Company Profile

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