Kadant Inc. (NYSE:KAI) Short Interest Up 6.9% in December

Kadant Inc. (NYSE:KAI - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,390,000 shares, a growth of 6.9% from the December 15th total of 1,300,000 shares. Based on an average trading volume of 92,800 shares, the short-interest ratio is presently 15.0 days.

Kadant Stock Up 0.1 %

Shares of KAI traded up $0.35 on Friday, reaching $367.34. The company's stock had a trading volume of 78,975 shares, compared to its average volume of 113,324. The stock has a market capitalization of $4.31 billion, a PE ratio of 37.60 and a beta of 1.28. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37. Kadant has a twelve month low of $249.51 and a twelve month high of $429.95. The firm has a fifty day moving average of $376.73 and a 200-day moving average of $342.76.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly 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. The business had revenue of $271.61 million during the quarter, compared to analyst estimates of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. Kadant's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.69 EPS. Equities analysts predict that Kadant will post 10.11 EPS for the current year.

Kadant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, January 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.35%. Kadant's dividend payout ratio (DPR) is currently 13.10%.

Insider Buying and Selling

In other news, Director Thomas C. Leonard sold 152 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $397.25, for a total value of $238,350.00. Following the completion of the sale, the vice president now owns 1,437 shares of the company's stock, valued at $570,848.25. The trade was a 29.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,052 shares of company stock worth $416,655 in the last 90 days. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Kadant

Several large investors have recently made changes to their positions in KAI. Erste Asset Management GmbH purchased a new stake in shares of Kadant during the 3rd quarter worth approximately $11,345,000. Segall Bryant & Hamill LLC bought a new position in Kadant during the third quarter valued at $11,206,000. DF Dent & Co. Inc. increased its position in Kadant by 64.1% in the third quarter. DF Dent & Co. Inc. now owns 83,163 shares of the industrial products company's stock worth $28,109,000 after buying an additional 32,491 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Kadant by 34.8% in the third quarter. Champlain Investment Partners LLC now owns 122,624 shares of the industrial products company's stock valued at $41,447,000 after buying an additional 31,675 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Kadant by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock valued at $21,876,000 after buying an additional 24,358 shares during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barrington Research upped their target price on Kadant from $360.00 to $410.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.