Kadant Inc. (NYSE:KAI) Sees Large Growth in Short Interest

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

Kadant Trading Down 1.3 %

Shares of NYSE KAI traded down $4.84 during mid-day trading on Friday, hitting $364.54. The stock had a trading volume of 70,704 shares, compared to its average volume of 90,846. The firm has a market cap of $4.28 billion, a P/E ratio of 37.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.46 and a current ratio of 2.29. The business has a 50 day moving average price of $368.52 and a two-hundred day moving average price of $348.17. Kadant has a 1 year low of $249.51 and a 1 year high of $429.95.

Kadant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Friday, January 10th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, January 10th. Kadant's dividend payout ratio (DPR) is 13.10%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Kadant

In related news, 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 transaction of $238,350.00. Following the transaction, the vice president now owns 1,437 shares of the company's stock, valued at approximately $570,848.25. This trade represents a 29.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas C. Leonard sold 152 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the completion of the sale, the director now directly owns 4,250 shares of the company's stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,052 shares of company stock valued at $416,655. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Kadant

Several large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in Kadant during the 3rd quarter valued at approximately $25,000. Hilltop National Bank bought a new position in shares of Kadant during the fourth quarter valued at approximately $26,000. Icon Wealth Advisors LLC purchased a new stake in Kadant in the third quarter worth $28,000. Westside Investment Management Inc. bought a new stake in Kadant in the third quarter valued at $31,000. Finally, Jones Financial Companies Lllp increased its position in Kadant by 267.9% during the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 75 shares during the period. 96.13% of the stock is owned by institutional investors.

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.