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

Kadant Inc. (NYSE:KAI) declared a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Thursday, October 10th will be paid a dividend of 0.32 per share by the industrial products company on Thursday, November 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, October 10th.

Kadant has raised its dividend by an average of 6.0% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Kadant has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kadant to earn $10.69 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 12.0%.

Kadant Stock Down 0.6 %

Shares of NYSE:KAI opened at $301.11 on Friday. The firm has a fifty day moving average of $316.56 and a 200 day moving average of $303.70. Kadant has a 52-week low of $214.21 and a 52-week high of $363.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. The firm has a market capitalization of $3.54 billion, a PE ratio of 31.37 and a beta of 1.21.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.43 by $0.38. The firm had revenue of $275.00 million for the quarter, compared to analyst estimates of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.54 EPS. As a group, research analysts anticipate that Kadant will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on KAI. DA Davidson lifted their target price 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. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Wednesday, June 26th.

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.