Kadant (NYSE:KAI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other research analysts have also recently issued reports about the stock. Barrington Research set a $112.00 target price on shares of Kadant and gave the stock a “buy” rating in a research report on Friday, June 29th. Zacks Investment Research cut shares of Kadant from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th.

NYSE KAI opened at $95.65 on Thursday. Kadant has a 52 week low of $90.65 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.87. The firm has a market cap of $1.20 billion, a PE ratio of 21.30 and a beta of 1.29.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Kadant had a net margin of 6.15% and a return on equity of 16.05%. The business had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $151.54 million. During the same period in the previous year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Kadant will post 5.06 earnings per share for the current year.

In related news, CFO Michael J. Mckenney sold 5,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $103.00, for a total value of $515,000.00. Following the sale, the chief financial officer now directly owns 11,624 shares of the company’s stock, valued at $1,197,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas C. Leonard sold 1,000 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the director now directly owns 22,100 shares in the company, valued at $2,431,000. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $1,089,175 over the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its holdings in Kadant by 11.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 6,327 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 640 shares in the last quarter. Algert Global LLC raised its holdings in Kadant by 3.1% in the second quarter. Algert Global LLC now owns 28,840 shares of the industrial products company’s stock valued at $2,773,000 after acquiring an additional 866 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Kadant by 42.7% in the second quarter. Xact Kapitalforvaltning AB now owns 3,679 shares of the industrial products company’s stock valued at $354,000 after acquiring an additional 1,100 shares in the last quarter. Cadence Capital Management LLC raised its holdings in Kadant by 8.6% in the second quarter. Cadence Capital Management LLC now owns 15,003 shares of the industrial products company’s stock valued at $1,443,000 after acquiring an additional 1,189 shares in the last quarter. Finally, Capital Fund Management S.A. raised its holdings in Kadant by 40.0% in the second quarter. Capital Fund Management S.A. now owns 5,600 shares of the industrial products company’s stock valued at $538,000 after acquiring an additional 1,600 shares in the last quarter. 97.60% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Company Profile

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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