Kadant (NYSE:KAI) Earns Outperform Rating from Barrington Research

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

Separately, DA Davidson increased their target price on Kadant from $290.00 to $300.00 and gave the company a neutral rating in a research note on Thursday, August 1st.

Kadant Trading Down 2.5 %

NYSE:KAI opened at $332.98 on Friday. Kadant has a 1-year low of $214.21 and a 1-year high of $363.40. The business’s 50-day moving average price is $320.36 and its two-hundred day moving average price is $303.16. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 34.69 and a beta of 1.21.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The firm had revenue of $275.00 million for the quarter, compared to analyst estimates of $263.50 million. During the same quarter in the prior year, the firm posted $2.54 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities analysts expect that Kadant will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio is currently 13.33%.

Institutional Investors Weigh In On Kadant

A number of hedge funds have recently modified their holdings of KAI. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Kadant during the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Kadant during the second quarter worth about $29,000. Parallel Advisors LLC grew its holdings in shares of Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after buying an additional 39 shares in the last quarter. Covestor Ltd grew its holdings in shares of Kadant by 31,600.0% during the first quarter. Covestor Ltd now owns 317 shares of the industrial products company’s stock worth $104,000 after buying an additional 316 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Kadant during the first quarter worth about $141,000. Institutional investors and hedge funds 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.