Insider Selling: Kadant Inc. (NYSE:KAI) CEO Sells 1,000 Shares of Stock

Kadant Inc. (NYSE:KAI) CEO Jeffrey L. Powell sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $203.01, for a total value of $203,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kadant stock traded down $2.24 during mid-day trading on Wednesday, hitting $200.07. 26,952 shares of the company’s stock were exchanged, compared to its average volume of 36,726. The company’s 50 day simple moving average is $208.27 and its 200-day simple moving average is $187.60. Kadant Inc. has a fifty-two week low of $109.14 and a fifty-two week high of $225.64. The firm has a market capitalization of $2.32 billion, a P/E ratio of 33.13, a PEG ratio of 3.64 and a beta of 1.34. The company has a quick ratio of 1.81, a current ratio of 2.52 and a debt-to-equity ratio of 0.51.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, August 3rd. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.50. Kadant had a return on equity of 14.66% and a net margin of 10.19%. The firm had revenue of $195.81 million for the quarter, compared to the consensus estimate of $178.07 million. Research analysts expect that Kadant Inc. will post 7.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 11th. Shareholders of record on Thursday, October 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, October 13th. Kadant’s dividend payout ratio is 20.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC bought a new stake in shares of Kadant during the second quarter worth approximately $29,000. Advisory Services Network LLC bought a new stake in shares of Kadant during the second quarter worth approximately $31,000. Pflug Koory LLC bought a new stake in shares of Kadant during the second quarter worth approximately $44,000. Advisor Group Holdings Inc. boosted its holdings in shares of Kadant by 37.7% during the second quarter. Advisor Group Holdings Inc. now owns 314 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 86 shares during the period. Finally, Sageworth Trust Co bought a new stake in shares of Kadant during the first quarter worth approximately $76,000. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Kadant from a “hold” rating to a “strong-buy” rating and set a $230.00 price target on the stock in a research report on Tuesday, August 10th. Barrington Research reissued a “buy” rating and issued a $240.00 price target on shares of Kadant in a research note on Thursday, September 30th.

About Kadant

Kadant, Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.

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Insider Buying and Selling by Quarter for Kadant (NYSE:KAI)

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