Kadant (NYSE:KAI) Posts Earnings Results, Beats Expectations By $0.38 EPS

Kadant (NYSE:KAI) released its quarterly earnings data on Tuesday. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38, Briefing.com reports. Kadant had a net margin of 11.35% and a return on equity of 15.73%. The business had revenue of $275.00 million during the quarter, compared to analysts’ expectations of $263.50 million. During the same quarter in the prior year, the company earned $2.54 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis.

Kadant Stock Down 7.6 %

Kadant stock opened at $324.77 on Friday. Kadant has a twelve month low of $196.99 and a twelve month high of $363.40. The stock has a market cap of $3.81 billion, a P/E ratio of 33.83 and a beta of 1.24. The company’s 50-day moving average price is $302.16 and its two-hundred day moving average price is $300.60. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s dividend payout ratio is 13.33%.

Analyst Ratings Changes

Several research analysts have recently weighed in on KAI shares. Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a report on Wednesday, June 26th. DA Davidson increased their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Insider Activity

In related news, Director Erin L. Russell sold 1,112 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the transaction, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is 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.