Kadant (NYSE:KAI) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of Kadant (NYSE:KAI - Free Report) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other research firms have also weighed in on KAI. DA Davidson cut their price objective on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barrington Research reiterated an "outperform" rating and issued a $380.00 price target on shares of Kadant in a report on Thursday, May 1st.

Kadant Price Performance

Shares of Kadant stock traded up $5.01 during trading on Friday, hitting $309.40. 114,787 shares of the company were exchanged, compared to its average volume of 115,256. Kadant has a fifty-two week low of $279.64 and a fifty-two week high of $429.95. The company has a quick ratio of 1.62, a current ratio of 2.47 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $311.88 and a 200 day moving average price of $341.24. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 32.85 and a beta of 1.26.

Kadant (NYSE:KAI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.13. The company had revenue of $239.21 million during the quarter, compared to analysts' expectations of $239.41 million. Kadant had a return on equity of 13.74% and a net margin of 10.63%. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, equities analysts expect that Kadant will post 9.97 earnings per share for the current fiscal year.

Kadant announced that its board has approved a share repurchase program on Thursday, May 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Thursday, July 10th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.36 annualized dividend and a dividend yield of 0.44%. Kadant's dividend payout ratio is presently 14.44%.

Institutional Investors Weigh In On Kadant

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Kadant by 1.1% in the 4th quarter. Rhumbline Advisers now owns 18,386 shares of the industrial products company's stock valued at $6,343,000 after purchasing an additional 207 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Kadant by 13.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,132 shares of the industrial products company's stock valued at $2,460,000 after buying an additional 828 shares during the period. Venturi Wealth Management LLC lifted its position in Kadant by 1,289.5% during the fourth quarter. Venturi Wealth Management LLC now owns 528 shares of the industrial products company's stock valued at $182,000 after buying an additional 490 shares in the last quarter. Versor Investments LP purchased a new stake in Kadant during the fourth quarter worth approximately $310,000. Finally, Jones Financial Companies Lllp increased its position in shares of Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock worth $36,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Kadant Company Profile

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.