Kadant Inc. (NYSE:KAI) CEO Sells $439,824.00 in Stock

Kadant Inc. (NYSE:KAI) CEO Jeffrey L. Powell sold 2,200 shares of Kadant stock in a transaction that occurred on Wednesday, October 13th. The shares were sold at an average price of $199.92, for a total transaction of $439,824.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of KAI opened at $200.07 on Thursday. The company has a market capitalization of $2.32 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 3.64 and a beta of 1.34. The company has a quick ratio of 1.81, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $208.40 and a 200 day moving average of $187.69. Kadant Inc. has a twelve month low of $109.14 and a twelve month high of $225.64.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, August 3rd. The industrial products company reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.50. The company had revenue of $195.81 million during the quarter, compared to the consensus estimate of $178.07 million. Kadant had a net margin of 10.19% and a return on equity of 14.66%. On average, sell-side analysts expect that Kadant Inc. will post 7.41 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 11th. Shareholders of record on Thursday, October 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Wednesday, October 13th. Kadant’s dividend payout ratio (DPR) is presently 20.00%.

A number of large investors have recently bought and sold shares of KAI. Amundi Pioneer Asset Management Inc. grew its position in Kadant by 2.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 25,893 shares of the industrial products company’s stock worth $2,277,000 after purchasing an additional 638 shares during the period. BlackRock Inc. grew its position in Kadant by 1.9% in the 1st quarter. BlackRock Inc. now owns 865,501 shares of the industrial products company’s stock worth $160,127,000 after purchasing an additional 15,806 shares during the period. Principal Financial Group Inc. grew its position in Kadant by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 10,905 shares of the industrial products company’s stock worth $2,017,000 after purchasing an additional 205 shares during the period. Russell Investments Group Ltd. bought a new stake in Kadant in the 1st quarter worth approximately $250,000. Finally, Teacher Retirement System of Texas bought a new stake in Kadant in the 1st quarter worth approximately $236,000. 93.28% of the stock is owned by institutional investors and hedge funds.

KAI has been the subject of several recent research reports. Barrington Research reiterated a “buy” rating and set a $240.00 target price on shares of Kadant in a report on Thursday, September 30th. Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $230.00 price target for the company in a research report on Tuesday, August 10th.

About Kadant

Kadant, Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.

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