Thomas C. Leonard Sells 152 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total value of $60,527.92. Following the completion of the sale, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. This trade represents a 3.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kadant Stock Performance

Shares of KAI stock opened at $392.76 on Thursday. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 40.20 and a beta of 1.21. Kadant Inc. has a 1-year low of $249.51 and a 1-year high of $422.54. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $343.64 and its 200-day simple moving average is $315.87.

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

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 9th. Kadant’s dividend payout ratio is currently 13.10%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of Kadant by 5.2% during the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 37 shares during the last quarter. Trust Point Inc. boosted its position in shares of Kadant by 1.1% in the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after acquiring an additional 45 shares during the period. Wealth Alliance grew its stake in shares of Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 47 shares during the last quarter. King Luther Capital Management Corp increased its position in Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 48 shares during the period. Finally, Associated Banc Corp raised its stake in Kadant by 7.5% during the 3rd quarter. Associated Banc Corp now owns 831 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 58 shares during the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KAI shares. DA Davidson lifted their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note 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.

About Kadant

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.