Kadant Inc. (NYSE:KAI) Expected to Earn Q3 2024 Earnings of $2.47 Per Share

Kadant Inc. (NYSE:KAI) – Stock analysts at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for Kadant in a report issued on Thursday, August 1st. William Blair analyst R. Sparenblek now forecasts that the industrial products company will post earnings of $2.47 per share for the quarter, down from their prior estimate of $2.70. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.95 per share. William Blair also issued estimates for Kadant’s Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.05 EPS and FY2025 earnings at $11.20 EPS.

KAI has been the topic of a number of other research reports. DA Davidson raised their price objective on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Wednesday, June 26th.

Kadant Price Performance

NYSE KAI opened at $303.09 on Monday. Kadant has a 12 month low of $210.43 and a 12 month high of $363.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. The firm has a market capitalization of $3.56 billion, a PE ratio of 31.57 and a beta of 1.24. The company’s 50 day simple moving average is $304.13 and its 200 day simple moving average is $301.97.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.73% and a net margin of 11.35%. The company had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. During the same quarter in the previous year, the company posted $2.54 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Kadant during the fourth quarter valued at approximately $165,000. International Assets Investment Management LLC bought a new position in shares of Kadant in the 4th quarter valued at about $1,571,000. Wakefield Asset Management LLLP bought a new position in shares of Kadant in the 4th quarter valued at about $871,000. Bleakley Financial Group LLC bought a new stake in shares of Kadant during the 4th quarter worth about $540,000. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Kadant by 2.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 16,449 shares of the industrial products company’s stock worth $4,611,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Insider Buying and Selling at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of Kadant stock in a transaction on Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the completion of the sale, the director now owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s dividend payout ratio (DPR) is currently 13.33%.

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.