Kadant (NYSE:KAI) has received an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $106.00.

A number of equities research analysts recently weighed in on KAI shares. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Barrington Research reissued an “outperform” rating and issued a $110.00 target price on shares of Kadant in a research note on Thursday, March 1st.

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In other news, insider Jeffrey L. Powell sold 7,277 shares of Kadant stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $100.38, for a total value of $730,465.26. Following the completion of the sale, the insider now directly owns 7,102 shares of the company’s stock, valued at approximately $712,898.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sandra L. Lambert sold 2,475 shares of Kadant stock in a transaction on Monday, March 12th. The shares were sold at an average price of $104.51, for a total value of $258,662.25. Following the completion of the sale, the vice president now directly owns 13,190 shares of the company’s stock, valued at $1,378,486.90. The disclosure for this sale can be found here. Insiders sold a total of 15,854 shares of company stock valued at $1,607,931 over the last three months. Insiders own 5.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Kadant in the 4th quarter worth $104,000. Meeder Asset Management Inc. boosted its position in shares of Kadant by 264.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 1,199 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Kadant in the 3rd quarter worth $302,000. Teacher Retirement System of Texas bought a new position in shares of Kadant in the 4th quarter worth $380,000. Finally, Lazard Asset Management LLC bought a new position in shares of Kadant in the 4th quarter worth $405,000. 90.70% of the stock is owned by institutional investors.

KAI stock opened at $96.25 on Friday. Kadant has a fifty-two week low of $57.60 and a fifty-two week high of $114.00. The firm has a market cap of $1,040.49, a P/E ratio of 21.11 and a beta of 1.37. The company has a quick ratio of 1.37, a current ratio of 2.01 and a debt-to-equity ratio of 0.73.

Kadant (NYSE:KAI) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The firm had revenue of $149.14 million during the quarter, compared to analysts’ expectations of $144.50 million. equities research analysts expect that Kadant will post 5.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, April 12th will be paid a $0.22 dividend. This is a boost from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, April 11th. Kadant’s dividend payout ratio (DPR) is 19.60%.

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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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