Kadant (NYSE:KAI) Announces Quarterly Earnings Results

Kadant (NYSE:KAI) issued its quarterly earnings data on Tuesday. The industrial products company reported $2.84 earnings per share (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 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%. Kadant’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $2.69 earnings per share.

Kadant Stock Performance

KAI stock traded up $17.27 during mid-day trading on Wednesday, reaching $337.82. The company had a trading volume of 14,523 shares, compared to its average volume of 80,439. 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 stock has a market capitalization of $3.97 billion, a P/E ratio of 32.98 and a beta of 1.21. Kadant has a one year low of $217.85 and a one year high of $363.40. The stock’s 50-day simple moving average is $322.41 and its two-hundred day simple moving average is $305.09.

Kadant Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barrington Research reiterated an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Friday, September 20th. DA Davidson raised their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

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.