Kadant Inc. (NYSE:KAI) Raises Dividend to $0.34 Per Share

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Wednesday, April 9th will be paid 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 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 by an average of 8.6% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Kadant has a 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 Performance

Shares of KAI 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 stock has a 50-day moving average of $362.21 and a 200-day moving average of $360.69. Kadant has a one year low of $249.51 and a one year high of $429.95. The company has a market cap of $3.59 billion, a PE ratio of 32.12 and a beta of 1.24.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Kadant will post 9.97 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.