What is William Blair’s Forecast for Kadant FY2024 Earnings?

Kadant Inc. (NYSE:KAI) – William Blair lifted their FY2024 earnings per share estimates for shares of Kadant in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst R. Sparenblek now forecasts that the industrial products company will post earnings of $10.12 per share for the year, up from their prior estimate of $10.05. The consensus estimate for Kadant’s current full-year earnings is $9.99 per share.

A number of other equities analysts have also recently issued reports on the company. DA Davidson lifted their target price on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and set a $360.00 price target on shares of Kadant in a report on Wednesday, October 30th.

Kadant Stock Performance

Shares of NYSE KAI opened at $349.69 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 35.79 and a beta of 1.21. The stock’s fifty day simple moving average is $323.77 and its 200 day simple moving average is $306.11. Kadant has a 52-week low of $242.07 and a 52-week high of $363.40.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. The business had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.69 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Kadant in the third quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kadant in the second quarter worth about $29,000. Park Place Capital Corp lifted its position in shares of Kadant by 68.6% in the third quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock worth $69,000 after buying an additional 83 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Kadant in the third quarter worth about $74,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Kadant by 226.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the industrial products company’s stock worth $80,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insider Activity

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Kadant Dividend Announcement

The firm 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 13.10%.

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.