DA Davidson Weighs in on Kadant’s FY2024 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Equities researchers at DA Davidson upped their FY2024 EPS estimates for shares of Kadant in a research note issued on Thursday, October 31st. DA Davidson analyst K. Yinger now forecasts that the industrial products company will post earnings of $10.06 per share for the year, up from their previous forecast of $9.94. DA Davidson has a “Neutral” rating and a $300.00 price objective on the stock. The consensus estimate for Kadant’s current full-year earnings is $10.11 per share.

Separately, Barrington Research reissued an “outperform” rating and set a $360.00 price objective on shares of Kadant in a report on Wednesday, October 30th.

Kadant Price Performance

Shares of NYSE KAI opened at $359.74 on Monday. The stock’s 50-day simple moving average is $324.35 and its 200-day simple moving average is $306.58. The firm has a market capitalization of $4.22 billion, a PE ratio of 36.82 and a beta of 1.21. Kadant has a fifty-two week low of $242.07 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25.

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

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is currently 13.10%.

Insider Activity

In related news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction that occurred 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 $1,433,950. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Kadant

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new position in Kadant in the first quarter valued at $209,000. Fidelis Capital Partners LLC acquired a new position in Kadant in the 1st quarter valued at about $141,000. Envestnet Portfolio Solutions Inc. raised its stake 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 acquiring an additional 57 shares during the last quarter. SG Americas Securities LLC lifted its position in Kadant by 624.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 3,671 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Kadant in the 1st quarter valued at approximately $670,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

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.