Barrington Research Reaffirms Outperform Rating for Kadant (NYSE:KAI)

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

Separately, DA Davidson upped their target price on shares of Kadant from $290.00 to $300.00 and gave the company a neutral rating in a report on Thursday, August 1st.

Kadant Price Performance

Shares of KAI stock opened at $335.41 on Friday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 34.94 and a beta of 1.21. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. Kadant has a 12 month low of $214.21 and a 12 month high of $363.40. The stock has a 50-day moving average price of $320.50 and a 200 day moving average price of $303.18.

Kadant (NYSE:KAI) last issued its earnings results 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. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same quarter in the prior year, the firm earned $2.54 earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Research analysts expect that Kadant will post 9.93 EPS for the current year.

Kadant Announces Dividend

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

Institutional Trading of Kadant

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in shares of Kadant in the 2nd quarter valued at $615,000. Algert Global LLC bought a new stake in Kadant during the 2nd quarter worth $347,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Kadant by 175.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 5,627 shares of the industrial products company’s stock valued at $1,653,000 after purchasing an additional 3,584 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of Kadant by 0.7% during the second quarter. Select Equity Group L.P. now owns 13,525 shares of the industrial products company’s stock worth $3,973,000 after purchasing an additional 91 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Kadant by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,651 shares of the industrial products company’s stock valued at $1,954,000 after buying an additional 194 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

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.