Kadant’s (KAI) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Kadant (NYSE:KAI) in a report released on Wednesday, Benzinga reports. Barrington Research currently has a $360.00 price objective on the industrial products company’s stock.

Separately, DA Davidson lifted 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.

Kadant Trading Up 4.7 %

NYSE:KAI opened at $335.71 on Wednesday. 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’s 50 day moving average is $322.86 and its 200-day moving average is $305.30. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 34.54 and a beta of 1.21. Kadant has a 12 month low of $217.85 and a 12 month high of $363.40.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm had revenue of $271.61 million during the quarter, compared to analyst estimates of $266.38 million. During the same quarter in the previous year, the business earned $2.69 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that Kadant will post 9.93 EPS for the current year.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s payout ratio is presently 13.17%.

Insider Buying and Selling

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 owns 4,250 shares of the company’s stock, valued at $1,433,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kadant

Institutional investors and hedge funds have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant during the 2nd quarter valued at about $29,000. Park Place Capital Corp boosted its holdings in Kadant by 68.6% during the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 83 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Kadant in the 3rd quarter valued at approximately $74,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Kadant by 226.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after buying an additional 190 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Kadant by 31,600.0% during the 1st quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after buying an additional 316 shares during the period. Institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

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.