Kadant Inc. (NYSE:KAI) declared a quarterly dividend on Wednesday, September 11th, Zacks reports. Stockholders of record on Thursday, October 10th will be paid a dividend of 0.23 per share by the industrial products company on Thursday, November 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, October 9th.
Kadant has increased its dividend by an average of 9.6% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Kadant has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kadant to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 15.2%.
Shares of KAI stock opened at $87.66 on Friday. The firm’s 50 day moving average price is $83.21 and its 200-day moving average price is $87.71. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.34 and a current ratio of 2.09. Kadant has a one year low of $76.44 and a one year high of $111.85. The firm has a market cap of $948.57 million, a P/E ratio of 14.40 and a beta of 1.29.
Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.11 by $0.31. Kadant had a net margin of 9.50% and a return on equity of 17.67%. The firm had revenue of $177.20 million for the quarter, compared to analyst estimates of $168.67 million. During the same period in the prior year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Kadant will post 5.32 EPS for the current fiscal year.
KAI has been the topic of several recent analyst reports. ValuEngine lowered shares of Kadant from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Kadant from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $103.55.
In other Kadant news, CEO Jonathan W. Painter sold 16,243 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $90.50, for a total transaction of $1,469,991.50. Following the sale, the chief executive officer now directly owns 95,259 shares in the company, valued at approximately $8,620,939.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric T. Langevin sold 9,723 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $90.65, for a total transaction of $881,389.95. Following the sale, the insider now owns 55,560 shares in the company, valued at $5,036,514. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,823 shares of company stock worth $6,286,944. Company insiders own 5.50% of the company’s stock.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
Read More: The Structure of a Futures Contract
Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.