Kadant Inc. (NYSE:KAI – Get Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Stockholders of record on Thursday, July 14th will be paid a dividend of 0.26 per share by the industrial products company on Thursday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, July 13th.
Kadant has increased its dividend by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Kadant has a payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kadant to earn $9.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 10.7%.
Shares of NYSE KAI opened at $184.04 on Friday. The company has a market cap of $2.15 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.51 and a beta of 1.24. Kadant has a 12 month low of $164.81 and a 12 month high of $240.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.80 and a quick ratio of 1.14. The company has a 50-day simple moving average of $191.94 and a 200-day simple moving average of $208.41.
Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. The business had revenue of $226.48 million during the quarter, compared to the consensus estimate of $215.17 million. Kadant had a net margin of 12.93% and a return on equity of 17.88%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, analysts anticipate that Kadant will post 8.9 EPS for the current year.
In other Kadant news, SVP Stacy D. Krause sold 1,415 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dara F. Mitchell sold 1,480 shares of the business’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $200.00, for a total transaction of $296,000.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. increased its stake in Kadant by 3.6% during the first quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company’s stock valued at $312,399,000 after purchasing an additional 55,595 shares during the last quarter. BlackRock Inc. grew its position in Kadant by 2.2% in the 4th quarter. BlackRock Inc. now owns 788,752 shares of the industrial products company’s stock valued at $181,792,000 after buying an additional 17,142 shares in the last quarter. Vanguard Group Inc. grew its position in Kadant by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 596,592 shares of the industrial products company’s stock valued at $115,852,000 after buying an additional 11,438 shares in the last quarter. State Street Corp grew its position in Kadant by 1.1% in the 1st quarter. State Street Corp now owns 246,195 shares of the industrial products company’s stock valued at $47,809,000 after buying an additional 2,686 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Kadant by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 101,560 shares of the industrial products company’s stock valued at $19,722,000 after buying an additional 2,989 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
KAI has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Kadant in a report on Thursday, March 31st. They set a “buy” rating for the company. Seaport Res Ptn restated a “neutral” rating on shares of Kadant in a report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Kadant from a “hold” rating to a “sell” rating in a report on Tuesday, February 22nd. Finally, Barrington Research boosted their target price on shares of Kadant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 5th.
About Kadant (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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