Research Analysts Issue Forecasts for Kadant Inc.’s Q2 2024 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Kadant in a research report issued on Friday, May 3rd. DA Davidson analyst K. Yinger anticipates that the industrial products company will earn $2.46 per share for the quarter. The consensus estimate for Kadant’s current full-year earnings is $10.00 per share. DA Davidson also issued estimates for Kadant’s FY2024 earnings at $10.03 EPS and FY2025 earnings at $10.79 EPS.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. Kadant had a return on equity of 15.88% and a net margin of 11.53%. The company had revenue of $248.98 million for the quarter, compared to the consensus estimate of $245.56 million. During the same quarter in the prior year, the company earned $2.40 earnings per share. Kadant’s revenue was up 8.4% on a year-over-year basis.

A number of other research analysts also recently weighed in on KAI. William Blair reissued an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reissued an “outperform” rating and issued a $360.00 target price on shares of Kadant in a report on Monday, April 29th.

Kadant Stock Up 0.1 %

KAI stock opened at $281.44 on Monday. Kadant has a fifty-two week low of $186.99 and a fifty-two week high of $354.02. The business’s 50-day moving average is $305.95 and its two-hundred day moving average is $284.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 2.05. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 29.32 and a beta of 1.30.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.45%. This is an increase from Kadant’s previous quarterly dividend of $0.29. Kadant’s dividend payout ratio (DPR) is 13.33%.

Insider Transactions at Kadant

In other news, SVP Stacy D. Krause sold 700 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the transaction, the senior vice president now owns 881 shares of the company’s stock, valued at $288,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the sale, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacy D. Krause sold 700 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the sale, the senior vice president now owns 881 shares of the company’s stock, valued at approximately $288,087. The disclosure for this sale can be found here. Insiders have sold 8,798 shares of company stock valued at $2,899,004 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Kadant

Several institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position 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 purchasing an additional 39 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Kadant by 37.0% during the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System grew its holdings in Kadant by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company’s stock valued at $752,000 after buying an additional 53 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Kadant by 7.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after buying an additional 57 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its holdings in Kadant by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock valued at $496,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors 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.