Kadant Inc. (NYSE:KAI) VP Sells $238,350.00 in Stock

Kadant Inc. (NYSE:KAI) VP Fredrik H. Westerhout sold 600 shares of Kadant 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 completion of the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. The trade was a 29.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kadant Stock Performance

Shares of KAI opened at $408.42 on Friday. The company has a market capitalization of $4.79 billion, a PE ratio of 41.80 and a beta of 1.21. Kadant Inc. has a one year low of $249.51 and a one year high of $422.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The company’s fifty day moving average price is $345.53 and its 200 day moving average price is $316.51.

Kadant (NYSE:KAI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.69 EPS. As a group, analysts expect that Kadant Inc. will post 10.11 earnings per share for the current year.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.31%. Kadant’s payout ratio is 13.10%.

Analyst Upgrades and Downgrades

KAI has been the subject of several analyst reports. DA Davidson lifted their price objective on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. bought a new position in shares of Kadant during the 3rd quarter worth about $31,000. Virtu Financial LLC bought a new stake in Kadant in the third quarter valued at about $444,000. DF Dent & Co. Inc. increased its stake 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 valued at $28,109,000 after acquiring an additional 32,491 shares during the period. State Street Corp increased its stake in Kadant by 2.3% in the third quarter. State Street Corp now owns 280,797 shares of the industrial products company’s stock valued at $94,909,000 after acquiring an additional 6,412 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Kadant by 1.6% in the third quarter. Janus Henderson Group PLC now owns 130,291 shares of the industrial products company’s stock valued at $44,036,000 after acquiring an additional 2,068 shares during the period. Institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

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.