Kadant (NYSE:KAI) Announces Earnings Results, Beats Estimates By $0.41 EPS

Kadant (NYSE:KAI) announced its quarterly earnings data on Tuesday. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41, Briefing.com reports. The company had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. Kadant’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.69 EPS.

Kadant Stock Up 4.7 %

Shares of Kadant stock opened at $335.71 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.94 billion, a P/E ratio of 34.54 and a beta of 1.21. The firm’s 50 day moving average price is $322.86 and its 200-day moving average price is $305.30. Kadant has a 52-week low of $217.85 and a 52-week high of $363.40.

Kadant Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.38%. Kadant’s dividend payout ratio is presently 13.17%.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.