Kadant Inc. (KAI) To Go Ex-Dividend on April 9th

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Wednesday, April 9th will be given a dividend of 0.34 per share by the industrial products company on Wednesday, May 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a 6.3% increase from Kadant’s previous quarterly dividend of $0.32.

Kadant has increased its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend every year for the last 12 years. Kadant has a dividend payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kadant to earn $11.39 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.9%.

Kadant Stock Down 4.3 %

Shares of Kadant stock opened at $304.54 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 32.12 and a beta of 1.24. Kadant has a 52-week low of $249.51 and a 52-week high of $429.95. The stock has a 50-day simple moving average of $362.21 and a 200-day simple moving average of $360.69.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.17. Kadant had a return on equity of 14.66% and a net margin of 10.59%. On average, equities research analysts expect that Kadant will post 9.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and issued a $410.00 price objective on shares of Kadant in a report on Friday, February 14th.

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.