Kadant Inc. (NYSE:KAI) Announces $0.32 Quarterly Dividend

Kadant Inc. (NYSE:KAI) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Thursday, January 9th will be paid a dividend of 0.32 per share by the industrial products company on Thursday, February 6th. This represents a $1.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 9th.

Kadant has increased its dividend by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 11 years. Kadant has a payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kadant to earn $10.58 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 12.1%.

Kadant Trading Down 0.2 %

KAI opened at $391.88 on Friday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 40.11 and a beta of 1.21. Kadant has a 12 month low of $249.51 and a 12 month high of $422.54. The firm’s fifty day simple moving average is $338.30 and its 200 day simple moving average is $313.18. The company has a current ratio of 2.29, a quick ratio of 1.46 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41. The business had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 EPS. As a group, research analysts anticipate that Kadant will post 10.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on KAI. Barrington Research reissued an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Wednesday, October 30th. DA Davidson boosted their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Insider Activity

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. This represents a 32.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is 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.