Kadant Inc. (NYSE:KAI) SVP Sells $288,087.00 in Stock

Kadant Inc. (NYSE:KAIGet Free Report) SVP Stacy D. Krause sold 881 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $327.00, for a total value of $288,087.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kadant Stock Up 0.1 %

NYSE:KAI opened at $326.39 on Friday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 32.97 and a beta of 1.28. Kadant Inc. has a one year low of $183.19 and a one year high of $354.02. The stock has a 50-day simple moving average of $306.83 and a 200 day simple moving average of $267.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05.

Kadant (NYSE:KAIGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.31. The business had revenue of $238.68 million during the quarter, compared to the consensus estimate of $227.54 million. Kadant had a return on equity of 16.20% and a net margin of 12.12%. Sell-side analysts predict that Kadant Inc. will post 9.98 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be paid a $0.32 dividend. This is an increase from Kadant’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, April 9th. Kadant’s payout ratio is presently 11.72%.

Hedge Funds Weigh In On Kadant

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headinvest LLC acquired a new position in Kadant in the third quarter valued at approximately $25,000. Dark Forest Capital Management LP boosted its stake in Kadant by 70.4% in the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Parallel Advisors LLC boosted its stake in Kadant by 58.2% in the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 39 shares during the period. Lazard Asset Management LLC acquired a new position in Kadant in the fourth quarter valued at approximately $33,000. Finally, Comerica Bank acquired a new position in Kadant in the third quarter valued at approximately $51,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KAI has been the topic of a number of analyst reports. StockNews.com lowered Kadant from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Barrington Research reaffirmed an “outperform” rating and set a $300.00 target price on shares of Kadant in a research report on Wednesday, February 14th.

Check Out Our Latest Stock Analysis on Kadant

About Kadant

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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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