Kadant (NYSE:KAI) Reaches New 52-Week High – Should You Buy?

Kadant Inc. (NYSE:KAI)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $377.00 and last traded at $377.00, with a volume of 345 shares traded. The stock had previously closed at $359.74.

Wall Street Analyst Weigh In

KAI has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research report on Wednesday, October 30th. DA Davidson raised their price target on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

Kadant Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock’s fifty day simple moving average is $325.16 and its 200-day simple moving average is $307.13. The company has a market capitalization of $4.52 billion, a P/E ratio of 36.82 and a beta of 1.21.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same quarter last year, the firm posted $2.69 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that Kadant Inc. will post 10.11 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is presently 13.10%.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now directly owns 4,250 shares in the company, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kadant

Several institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. raised its holdings in shares of Kadant by 5.2% in the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock worth $219,000 after buying an additional 37 shares in the last quarter. Trust Point Inc. raised its stake in Kadant by 1.1% during the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock worth $1,412,000 after acquiring an additional 45 shares in the last quarter. Wealth Alliance lifted its holdings in shares of Kadant by 7.0% during the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 47 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Kadant by 7.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 57 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Kadant by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company’s stock worth $963,000 after purchasing an additional 62 shares during the last quarter. Institutional investors 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.