Shares of Kadant Inc. (NYSE:KAI) have received a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $94.00.
A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, December 11th.
Kadant (KAI) opened at $98.50 on Friday. Kadant has a 12 month low of $56.15 and a 12 month high of $114.00. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,063.31, a price-to-earnings ratio of 35.69 and a beta of 1.35.
In other Kadant news, VP Sandra L. Lambert sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.01, for a total value of $400,040.00. Following the sale, the vice president now directly owns 19,257 shares in the company, valued at approximately $1,925,892.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Mckenney sold 3,600 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $99.14, for a total transaction of $356,904.00. Following the completion of the sale, the chief financial officer now owns 19,160 shares in the company, valued at $1,899,522.40. The disclosure for this sale can be found here. Insiders sold a total of 26,819 shares of company stock worth $2,674,705 over the last 90 days. Company insiders own 5.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KAI. SG Americas Securities LLC acquired a new stake in Kadant in the 4th quarter worth $104,000. Citigroup Inc. grew its position in Kadant by 24.2% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 275 shares during the last quarter. Meeder Asset Management Inc. grew its position in 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. Verition Fund Management LLC acquired a new stake in Kadant in the 2nd quarter worth $215,000. Finally, Highbridge Capital Management LLC acquired a new stake in Kadant in the 3rd quarter worth $302,000. Institutional investors own 91.03% of the company’s stock.
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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