Seaport Res Ptn Analysts Raise Earnings Estimates for Kadant

Kadant Inc. (NYSE:KAI) – Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for Kadant in a report issued on Friday, November 1st. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings of $10.21 per share for the year, up from their previous estimate of $9.91. The consensus estimate for Kadant’s current full-year earnings is $9.99 per share. Seaport Res Ptn also issued estimates for Kadant’s Q4 2024 earnings at $2.18 EPS and Q4 2025 earnings at $2.46 EPS.

KAI has been the subject of several other research reports. Barrington Research restated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Wednesday, October 30th. DA Davidson boosted their price objective on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Kadant Price Performance

KAI opened at $343.38 on Monday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 35.15 and a beta of 1.21. The company’s 50-day moving average price is $323.77 and its 200 day moving average price is $305.97. Kadant has a fifty-two week low of $231.83 and a fifty-two week high of $363.40. 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 (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The company had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. During the same quarter last year, the business posted $2.69 EPS. Kadant’s quarterly revenue was up 11.2% compared to the same quarter last year.

Kadant Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.37%. Kadant’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the completion of the sale, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kadant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KAI. Xponance Inc. lifted its position in Kadant by 5.2% during the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 37 shares during the last quarter. Trust Point Inc. boosted its holdings in Kadant by 1.1% during the third quarter. Trust Point Inc. now owns 4,178 shares of the industrial products company’s stock valued at $1,412,000 after purchasing an additional 45 shares in the last quarter. Wealth Alliance grew its position in Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 47 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Kadant by 7.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 57 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Kadant by 1.9% in the second quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

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.