Kadant (NYSE:KAI – Get Rating) will be announcing its earnings results after the market closes on Tuesday, May 3rd. Analysts expect the company to announce earnings of $2.08 per share for the quarter.
Kadant (NYSE:KAI – Get Rating) last released its earnings results on Wednesday, February 16th. The industrial products company reported $2.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.32. The business had revenue of $218.52 million for the quarter, compared to analysts’ expectations of $215.09 million. Kadant had a return on equity of 16.81% and a net margin of 10.69%. The firm’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 earnings per share. On average, analysts expect Kadant to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
KAI opened at $188.74 on Friday. The stock has a market cap of $2.20 billion, a PE ratio of 26.18, a P/E/G ratio of 2.79 and a beta of 1.28. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. Kadant has a 52 week low of $163.17 and a 52 week high of $240.47. The business’s fifty day simple moving average is $194.82 and its 200 day simple moving average is $211.17.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 11th. Investors of record on Wednesday, April 13th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, April 12th. This is a boost from Kadant’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. Kadant’s dividend payout ratio (DPR) is presently 14.42%.
In related news, VP Dara F. Mitchell sold 1,480 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $200.00, for a total transaction of $296,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacy D. Krause sold 1,415 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $200.00, for a total transaction of $283,000.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KAI. Morgan Stanley raised its holdings in shares of Kadant by 84.2% in the second quarter. Morgan Stanley now owns 24,492 shares of the industrial products company’s stock worth $4,314,000 after buying an additional 11,194 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Kadant by 32.6% in the third quarter. Royal Bank of Canada now owns 4,697 shares of the industrial products company’s stock worth $959,000 after buying an additional 1,154 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Kadant by 21.4% in the third quarter. Citadel Advisors LLC now owns 14,239 shares of the industrial products company’s stock worth $2,906,000 after buying an additional 2,510 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Kadant by 61.7% in the third quarter. Millennium Management LLC now owns 8,502 shares of the industrial products company’s stock worth $1,735,000 after buying an additional 3,243 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Kadant by 52.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,312 shares of the industrial products company’s stock worth $472,000 after buying an additional 800 shares during the last quarter. 97.34% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on KAI. Zacks Investment Research lowered shares of Kadant from a “hold” rating to a “sell” rating in a report on Tuesday, February 22nd. StockNews.com assumed coverage on shares of Kadant in a research report on Thursday, March 31st. They set a “buy” rating for the company.
Kadant Company Profile (Get Rating)
Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.
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