Kadant Inc. (NYSE:KAI) Director Sells $117,777.00 in Stock

Kadant Inc. (NYSE:KAI - Get Free Report) Director Rebecca Martinez O'mara sold 300 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the sale, the director now owns 1,293 shares of the company's stock, valued at approximately $507,618.87. The trade was a 18.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kadant Trading Up 1.4 %

Kadant stock traded up $5.67 during mid-day trading on Monday, reaching $397.55. 48,986 shares of the company traded hands, compared to its average volume of 80,650. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. Kadant Inc. has a 52-week low of $249.51 and a 52-week high of $422.54. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 40.14 and a beta of 1.21. The firm's 50 day moving average price is $338.30 and its 200 day moving average price is $313.54.

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

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a yield of 0.32%. Kadant's dividend payout ratio (DPR) is 13.10%.

Wall Street Analysts Forecast Growth

KAI has been the topic of several analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson increased their target price on shares of Kadant from $290.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st.

Institutional Trading of Kadant

Hedge funds have recently modified their holdings of the business. DF Dent & Co. Inc. lifted its position in Kadant by 64.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company's stock valued at $28,109,000 after acquiring an additional 32,491 shares during the period. State Street Corp lifted its holdings in shares of Kadant by 2.3% during the third quarter. State Street Corp now owns 280,797 shares of the industrial products company's stock valued at $94,909,000 after purchasing an additional 6,412 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Kadant by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company's stock worth $44,036,000 after purchasing an additional 2,068 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Kadant by 120.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock worth $546,000 after buying an additional 883 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Kadant during the third quarter valued at $11,345,000. Institutional investors own 96.13% of the company's stock.

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.