Kadant (NYSE:KAI) Price Target Raised to $410.00

Kadant (NYSE:KAI) had its price target boosted by Barrington Research from $360.00 to $410.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Kadant Stock Down 1.4 %

Shares of NYSE:KAI opened at $347.07 on Thursday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 35.52 and a beta of 1.25. Kadant has a 12-month low of $249.51 and a 12-month high of $429.95. The business has a 50-day moving average price of $371.86 and a 200 day moving average price of $332.92. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37.

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

Kadant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be paid a $0.32 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.37%. Kadant’s payout ratio is presently 13.10%.

Insider Buying and Selling

In related news, Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction of $60,527.92. Following the sale, the director now directly owns 4,250 shares of the company’s stock, valued at $1,692,392.50. This represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca Martinez O’mara sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the completion of the transaction, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. This represents a 18.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,052 shares of company stock valued at $1,091,455. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kadant

A number of hedge funds have recently bought and sold shares of the stock. Xponance Inc. raised its holdings in Kadant by 5.2% in the second quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 37 shares in the last quarter. Franklin Resources Inc. increased its holdings in Kadant by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,510 shares of the industrial products company’s stock valued at $1,483,000 after buying an additional 44 shares during the last quarter. Trust Point Inc. raised its stake in Kadant by 1.1% in the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 45 shares in the last quarter. Wealth Alliance boosted its position in shares of Kadant by 7.0% during the 2nd quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 47 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Kadant by 0.7% during the third quarter. King Luther Capital Management Corp now owns 7,156 shares of the industrial products company’s stock worth $2,419,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

About Kadant

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.