Kadant (NYSE:KAI) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Kadant (NYSE:KAI) from a sell rating to a hold rating in a report released on Thursday, April 4th, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Sidoti upgraded Kadant from a neutral rating to a buy rating in a research report on Tuesday, December 11th. Barrington Research reiterated a buy rating and issued a $112.00 price target on shares of Kadant in a research report on Thursday, December 13th. Finally, Zacks Investment Research cut Kadant from a hold rating to a sell rating in a research report on Friday, February 22nd.

Shares of KAI stock traded up $1.32 during trading hours on Thursday, reaching $99.00. The company had a trading volume of 51,954 shares, compared to its average volume of 62,116. Kadant has a 12 month low of $76.44 and a 12 month high of $111.85. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.10 billion, a PE ratio of 18.46 and a beta of 1.08.

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

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

In other news, Director William P. Tully sold 1,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $88.36, for a total value of $132,540.00. Following the completion of the transaction, the director now directly owns 5,200 shares in the company, valued at approximately $459,472. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC bought a new position in shares of Kadant in the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. purchased a new stake in shares of Kadant in the 4th quarter worth approximately $81,000. Meeder Asset Management Inc. grew its stake in shares of Kadant by 2,222.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,254 shares of the industrial products company’s stock worth $102,000 after buying an additional 1,200 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Kadant by 62.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 1,587 shares of the industrial products company’s stock worth $124,000 after buying an additional 612 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Kadant by 12.5% in the 4th quarter. Legal & General Group Plc now owns 2,030 shares of the industrial products company’s stock worth $165,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Kadant

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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