Kadant (NYSE:KAI) Issues Earnings Results

Kadant (NYSE:KAI) announced its earnings results on Tuesday. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41, Briefing.com reports. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The business had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. During the same period last year, the firm posted $2.69 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis.

Kadant Price Performance

Kadant stock traded up $11.55 during midday trading on Friday, reaching $344.61. 8,679 shares of the stock traded hands, compared to its average volume of 80,510. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. Kadant has a 12 month low of $231.83 and a 12 month high of $363.40. The stock’s fifty day moving average is $323.33 and its 200-day moving average is $305.50. The stock has a market cap of $4.05 billion, a P/E ratio of 34.09 and a beta of 1.21.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be issued a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 annualized dividend and a dividend yield of 0.37%. Kadant’s dividend payout ratio (DPR) is 13.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KAI shares. Barrington Research reissued an “outperform” rating and set a $360.00 price target on shares of Kadant in a report on Wednesday. DA Davidson boosted their price objective on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Insider Activity at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

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.