William Blair Initiates Coverage on Kadant to Market Perform

William Blair Initiates Coverage on Kadant(NYSE:KAI). The shares have been rated Market Perform. The rating by William Blair was issued on Sep 16, 2016.

In a different note, On Aug 18, 2016, Seaport Global said it Upgrades its rating on Kadant. The shares have been rated ‘Buy’ by the firm.

Kadant (KAI) made into the market gainers list on Thursdays trading session with the shares advancing 1.41% or 0.74 points. Due to strong positive momentum, the stock ended at $53.12, which is also near the day’s high of $53.14. The stock began the session at $52.8 and the volume stood at 19,999 shares. The 52-week high of the shares is $56.5725 and the 52 week low is $33.38. The company has a current market capitalization of $579 M and it has 1,08,97,252 shares in outstanding.

Kadant has also declared a cash dividend of $0.1900 on Sep 14, 2016. The shares will quote ex-dividend on Oct 11, 2016 and the record date has been fixed on Oct 13, 2016. The dividend payable date has been fixed on Nov 10, 2016.

Kadant(KAI) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $111.83M. Analysts had an estimated revenue of $104.44M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.65.

Several Insider Transactions has been reported to the SEC. On Aug 18, 2016, Sandra L Lambert (VP, GENERAL COUNSEL, SECRETARY) sold 4,118 shares at $52.00 per share price.Also, On Aug 8, 2016, Jonathan W Painter (PRESIDENT AND CEO) sold 3,000 shares at $56.00 per share price.On Jul 6, 2016, William P Tully (director) sold 3,750 shares at $51.85 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.

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