Kadant Inc. (NYSE:KAI) fell 2.7% on Friday . The stock traded as low as $53.92 and last traded at $54.35, with a volume of 69,584 shares. The stock had previously closed at $55.88.

Several research firms have recently weighed in on KAI. Barrington Research increased their price objective on shares of Kadant from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Investment Research upgraded shares of Kadant from a “sell” rating to a “hold” rating and set a $53.00 price target for the company in a report on Thursday, May 5th. Finally, Seaport Global Securities cut shares of Kadant from an “accumulate” rating to a “neutral” rating in a report on Friday.

The company has a 50 day moving average price of $52.91 and a 200-day moving average price of $46.31. The company has a market capitalization of $585.90 million and a price-to-earnings ratio of 17.46.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.23. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business earned $111.83 million during the quarter, compared to the consensus estimate of $104.44 million. The company’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Kadant Inc. will post $3.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, July 14th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.41%.

In other news, CEO Jonathan W. Painter sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $50.32, for a total value of $503,200.00. Following the completion of the sale, the chief executive officer now directly owns 74,337 shares in the company, valued at approximately $3,740,637.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas C. Leonard sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $52.00, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,040,000. The disclosure for this sale can be found here.

Several large investors have made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Kadant by 98.0% in the fourth quarter. Bank of Montreal Can now owns 36,980 shares of the company’s stock worth $1,501,000 after buying an additional 18,306 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Kadant during the fourth quarter worth $1,657,000. Dean Investment Associates LLC acquired a new stake in shares of Kadant during the fourth quarter worth $1,830,000. Royce & Associates LLC raised its stake in shares of Kadant by 3.4% in the fourth quarter. Royce & Associates LLC now owns 273,967 shares of the company’s stock worth $11,126,000 after buying an additional 8,900 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Kadant by 10.2% in the fourth quarter. Wells Fargo & Company MN now owns 734,293 shares of the company’s stock worth $29,821,000 after buying an additional 67,826 shares during the last quarter.

Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.

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