Kadant (NYSE:KAI) Posts Earnings Results, Beats Expectations By $0.38 EPS

Kadant (NYSE:KAI) announced its earnings results on Tuesday. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.38, Briefing.com reports. Kadant had a net margin of 11.35% and a return on equity of 15.73%. The business had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same period in the prior year, the firm earned $2.54 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year.

Kadant Stock Performance

Shares of KAI opened at $351.23 on Thursday. The stock has a market capitalization of $4.12 billion, a PE ratio of 36.59 and a beta of 1.24. The business’s fifty day moving average price is $301.04 and its 200 day moving average price is $300.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. Kadant has a 12-month low of $196.99 and a 12-month high of $363.40.

Kadant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.36%. Kadant’s dividend payout ratio (DPR) is 13.33%.

Insider Buying and Selling at Kadant

In other Kadant news, Director Erin L. Russell sold 1,112 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the transaction, the director now owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on KAI. William Blair reissued an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reiterated an “outperform” rating and set a $360.00 target price on shares of Kadant in a research note on Wednesday, June 26th.

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.