Kadant (NYSE:KAI) PT Lowered to $239.00 at Barrington Research

Kadant (NYSE:KAIGet Rating) had its price target reduced by Barrington Research from $248.00 to $239.00 in a report published on Monday morning, The Fly reports. Barrington Research currently has an outperform rating on the industrial products company’s stock.

Kadant Stock Performance

Shares of Kadant stock opened at $170.83 on Monday. The stock’s fifty day simple moving average is $188.67 and its 200 day simple moving average is $188.47. The company has a current ratio of 1.85, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.99 billion, a PE ratio of 17.81, a PEG ratio of 2.42 and a beta of 1.21. Kadant has a 12 month low of $165.37 and a 12 month high of $240.47.

Kadant (NYSE:KAIGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.27. Kadant had a return on equity of 17.77% and a net margin of 12.92%. The company had revenue of $221.65 million for the quarter, compared to analyst estimates of $219.37 million. On average, research analysts predict that Kadant will post 8.97 EPS for the current year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, October 12th. Kadant’s payout ratio is presently 10.84%.

Insider Buying and Selling at Kadant

In other news, Director William P. Tully sold 505 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $171.36, for a total transaction of $86,536.80. Following the completion of the transaction, the director now directly owns 3,346 shares of the company’s stock, valued at $573,370.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William P. Tully sold 505 shares of Kadant stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $171.36, for a total value of $86,536.80. Following the sale, the director now directly owns 3,346 shares in the company, valued at $573,370.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Albertine sold 1,200 shares of the business’s stock in a transaction on Monday, September 19th. The stock was 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 directly owns 6,813 shares in the company, valued at approximately $1,158,210. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Kadant

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Kadant during the first quarter valued at approximately $26,000. Lazard Asset Management LLC acquired a new stake in shares of Kadant in the 1st quarter valued at approximately $47,000. Asset Management One Co. Ltd. acquired a new stake in shares of Kadant in the 2nd quarter valued at approximately $124,000. Hardy Reed LLC acquired a new stake in shares of Kadant in the 1st quarter valued at approximately $125,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Kadant by 29.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 717 shares of the industrial products company’s stock valued at $167,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 96.40% of the company’s stock.

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.

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