Kadant (NYSE:KAI) Announces Quarterly Earnings Results

Kadant (NYSE:KAIGet Free Report) 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.

Check Out Our Latest Analysis on Kadant

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

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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.

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Earnings History for Kadant (NYSE:KAI)

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