Insider Selling: Kadant Inc. (NYSE:KAI) Director Sells 2,000 Shares of Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $110.71, for a total value of $221,420.00. Following the completion of the transaction, the director now directly owns 10,629 shares of the company’s stock, valued at approximately $1,176,736.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NYSE KAI traded up $1.52 during trading on Tuesday, reaching $109.55. The company had a trading volume of 91,752 shares, compared to its average volume of 77,195. The company’s fifty day moving average price is $103.74 and its 200-day moving average price is $91.54. Kadant Inc. has a 12 month low of $77.67 and a 12 month high of $111.09. The stock has a market cap of $1.21 billion, a P/E ratio of 18.67 and a beta of 1.34. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.77.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. Kadant had a return on equity of 16.76% and a net margin of 9.00%. The firm had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.94 million. During the same quarter in the previous year, the company posted $1.53 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Kadant Inc. will post 5.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be given a $0.23 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KAI. Nuveen Asset Management LLC bought a new stake in shares of Kadant in the 2nd quarter valued at about $14,949,000. BlackRock Inc. boosted its position in shares of Kadant by 18.3% during the 2nd quarter. BlackRock Inc. now owns 942,044 shares of the industrial products company’s stock valued at $85,546,000 after purchasing an additional 145,505 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Kadant during the 3rd quarter valued at about $5,964,000. Pictet Asset Management Ltd. boosted its position in shares of Kadant by 37.6% during the 2nd quarter. Pictet Asset Management Ltd. now owns 170,704 shares of the industrial products company’s stock valued at $15,502,000 after purchasing an additional 46,660 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in Kadant during the 2nd quarter worth approximately $612,000. Hedge funds and other institutional investors own 95.26% of the company’s stock.

A number of equities analysts have issued reports on KAI shares. Sidoti started coverage on Kadant in a report on Monday, December 23rd. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. DA Davidson started coverage on Kadant in a research report on Monday, January 6th. They issued a “neutral” rating and a $105.00 price target on the stock. ValuEngine lowered Kadant from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Finally, Barrington Research set a $107.00 price target on Kadant and gave the company a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $101.27.

Kadant Company Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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

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