Rebecca Martinez O’mara Sells 300 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) Director Rebecca Martinez O’mara sold 300 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $392.59, for a total value of $117,777.00. Following the completion of the transaction, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. This represents a 18.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kadant Stock Performance

Shares of KAI opened at $395.71 on Wednesday. The stock has a market cap of $4.65 billion, a P/E ratio of 40.50 and a beta of 1.21. The stock has a 50-day moving average of $341.95 and a two-hundred day moving average of $315.33. Kadant Inc. has a one year low of $249.51 and a one year high of $422.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The business had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. During the same period in the prior year, the business earned $2.69 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Kadant Inc. will post 10.11 EPS for the current year.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 annualized dividend and a yield of 0.32%. Kadant’s payout ratio is 13.10%.

Institutional Investors Weigh In On Kadant

Several institutional investors have recently added to or reduced their stakes in KAI. Xponance Inc. raised its position in Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 37 shares during the last quarter. Trust Point Inc. grew its stake in shares of Kadant by 1.1% during the 3rd quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock worth $1,412,000 after purchasing an additional 45 shares during the period. Wealth Alliance increased its holdings in Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after buying an additional 47 shares in the last quarter. King Luther Capital Management Corp increased its stake in Kadant by 0.7% in the 3rd quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 48 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Kadant by 7.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock worth $280,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson lifted their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Kadant in a report on Wednesday, October 30th.

Kadant Company Profile

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.