Kadant(NYSE:KAI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $111.83M. Analysts estimated a revenue of $104.44M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.65.
Kadant (KAI) shares turned negative on Fridays trading session with the shares closing down -0.72 points or -1.39% at a volume of 33,829. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $52.98. The peak price level was also seen at $52.98 while the days lowest was $50.91. Finally the shares closed at $51.19. The 52-week high of the shares is $56.5725 while the 52-week low is $33.38. According to the latest information available, the market cap of the company is $558 M.
Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, William P Tully (director) sold 3,750 shares at $51.85 per share price.Also, On Jul 5, 2016, Thomas C Leonard (director) sold 1,250 shares at $52.00 per share price.On Jun 17, 2016, Jonathan W Painter (PRESIDENT AND CEO) sold 10,000 shares at $49.93 per share price, according to the Form-4 filing with the securities and exchange commission.
Kadant Inc. is a supplier of equipment used in process industries. The process industries including papermaking paper recycling and oriented strand board (OSB) an engineered wood panel product used primarily in home construction. In addition the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems and a separate product line Fiber-based Products. Through its Papermaking Systems segment it develops manufactures and markets a range of equipment and products for the papermaking paper recycling and other process industries. Through its Wood Processing Systems segment it designs manufactures and markets stranders and related equipment. Through its Fiber-based Products business the Company produces biodegradable absorbent granules from papermaking byproducts for use as carriers for agricultural home lawn and garden and professional lawn turf and ornamental applications.