Kadant Inc. (NYSE:KAI – Free Report) – Equities researchers at William Blair boosted their Q3 2023 earnings per share estimates for Kadant in a research report issued on Wednesday, August 2nd. William Blair analyst L. De. Maria now anticipates that the industrial products company will earn $2.25 per share for the quarter, up from their previous forecast of $2.07. William Blair has a “Outperform” rating on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.15 per share. William Blair also issued estimates for Kadant’s FY2023 earnings at $9.30 EPS and FY2024 earnings at $9.75 EPS.
Kadant (NYSE:KAI – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.42. Kadant had a return on equity of 17.39% and a net margin of 11.96%. The firm had revenue of $245.00 million during the quarter, compared to analyst estimates of $231.14 million. During the same period in the prior year, the company posted $2.24 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year.
Kadant Stock Performance
Shares of NYSE:KAI opened at $212.11 on Friday. Kadant has a twelve month low of $154.19 and a twelve month high of $229.90. The firm has a market cap of $2.48 billion, a PE ratio of 22.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.20 and a current ratio of 1.99. The business has a fifty day moving average of $212.76 and a 200-day moving average of $204.84.
Hedge Funds Weigh In On Kadant
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP boosted its holdings in Kadant by 70.4% during the first quarter. Dark Forest Capital Management LP now owns 138 shares of the industrial products company’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Signaturefd LLC boosted its holdings in Kadant by 58.6% during the fourth quarter. Signaturefd LLC now owns 157 shares of the industrial products company’s stock worth $28,000 after buying an additional 58 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Kadant during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC raised its position in shares of Kadant by 62.2% during the first quarter. Tower Research Capital LLC TRC now owns 318 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 122 shares during the period. Finally, CWM LLC raised its position in shares of Kadant by 23.0% during the fourth quarter. CWM LLC now owns 439 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 82 shares during the period. Institutional investors own 95.07% of the company’s stock.
Insider Activity at Kadant
In other Kadant news, VP Fredrik H. Westerhout sold 480 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $215.00, for a total transaction of $103,200.00. Following the transaction, the vice president now owns 1,387 shares in the company, valued at $298,205. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.
Kadant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 13th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 12th. Kadant’s dividend payout ratio is 12.18%.
Kadant Company Profile
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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