Kadant Inc. (NYSE:KAI – Get Free Report) VP Dara F. Mitchell sold 400 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $218.22, for a total transaction of $87,288.00. Following the completion of the sale, the vice president now owns 108 shares in the company, valued at approximately $23,567.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Kadant Stock Performance
KAI traded down $0.79 during trading on Friday, hitting $219.22. The company’s stock had a trading volume of 50,563 shares, compared to its average volume of 57,360. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.22. Kadant Inc. has a one year low of $154.19 and a one year high of $229.90. The firm has a market cap of $2.57 billion, a PE ratio of 23.01 and a beta of 1.22. The business’s 50 day simple moving average is $215.14 and its 200-day simple moving average is $206.95.
Kadant (NYSE:KAI – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.42. The business had revenue of $245.00 million for the quarter, compared to the consensus estimate of $231.14 million. Kadant had a net margin of 11.96% and a return on equity of 16.98%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.24 earnings per share. As a group, sell-side analysts predict that Kadant Inc. will post 9.27 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $243.00 price objective on shares of Kadant in a report on Friday, July 28th. StockNews.com began coverage on shares of Kadant in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Kadant in a report on Friday, July 7th.
Institutional Trading of Kadant
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP increased its stake in shares of Kadant by 70.4% in the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Amalgamated Bank increased its stake in shares of Kadant by 3.1% in the fourth quarter. Amalgamated Bank now owns 1,925 shares of the industrial products company’s stock worth $342,000 after purchasing an additional 57 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Kadant by 0.4% in the second quarter. Rhumbline Advisers now owns 17,012 shares of the industrial products company’s stock worth $3,778,000 after purchasing an additional 61 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Kadant by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,690 shares of the industrial products company’s stock worth $1,042,000 after purchasing an additional 61 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Kadant by 3.9% in the third quarter. Trexquant Investment LP now owns 2,137 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 80 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.
About Kadant
Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.