William P. Tully Sells 1,500 Shares of Kadant Inc. (NYSE:KAI) Stock

Kadant Inc. (NYSE:KAI) Director William P. Tully sold 1,500 shares of Kadant stock in a transaction on Monday, April 1st. The stock was sold at an average price of $88.36, for a total transaction of $132,540.00. Following the sale, the director now owns 5,200 shares of the company’s stock, valued at $459,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Kadant stock opened at $98.40 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.29. Kadant Inc. has a 1 year low of $76.44 and a 1 year high of $111.85. The firm has a market cap of $1.08 billion, a P/E ratio of 18.09 and a beta of 1.08.

Kadant (NYSE:KAI) last issued its earnings results on Thursday, February 14th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.31. Kadant had a net margin of 9.53% and a return on equity of 17.14%. The firm had revenue of $163.94 million during the quarter, compared to analysts’ expectations of $160.67 million. During the same quarter last year, the company posted $1.14 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts anticipate that Kadant Inc. will post 5.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Monday, April 8th. This is a boost from Kadant’s previous quarterly dividend of $0.22.

Institutional investors have recently modified their holdings of the stock. CWM LLC purchased a new position in shares of Kadant during the fourth quarter worth $34,000. PNC Financial Services Group Inc. purchased a new position in Kadant in the fourth quarter valued at $81,000. Meeder Asset Management Inc. increased its holdings in Kadant by 2,222.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,254 shares of the industrial products company’s stock valued at $102,000 after buying an additional 1,200 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Kadant by 62.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,587 shares of the industrial products company’s stock valued at $124,000 after buying an additional 612 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Kadant by 12.5% in the fourth quarter. Legal & General Group Plc now owns 2,030 shares of the industrial products company’s stock valued at $165,000 after buying an additional 225 shares in the last quarter. 93.35% of the stock is owned by hedge funds and other institutional investors.

KAI has been the subject of several research reports. Zacks Investment Research downgraded shares of Kadant from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Barrington Research reiterated a “buy” rating and set a $112.00 price objective on shares of Kadant in a research note on Monday, January 28th. Finally, ValuEngine downgraded shares of Kadant from a “hold” rating to a “sell” rating in a research note on Friday, March 1st.

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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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