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

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

Kadant Stock Performance

Shares of NYSE KAI traded up $21.83 during trading on Wednesday, reaching $342.38. 13,341 shares of the company traded hands, compared to its average volume of 80,465. 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 52-week low of $217.85 and a 52-week high of $363.40. The stock has a market capitalization of $4.02 billion, a PE ratio of 32.98 and a beta of 1.21. The firm has a 50 day simple moving average of $322.41 and a 200-day simple moving average of $305.09.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.37%. Kadant’s dividend payout ratio is 13.17%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KAI. DA Davidson lifted their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a report on Friday, September 20th.

Insiders Place Their Bets

In related news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction 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 approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% 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.