Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Thursday, September 15th. Shareholders of record on Thursday, October 13th will be paid a dividend of 0.19 per share on Thursday, November 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 11th.
Shares of Kadant (NYSE:KAI) opened at 52.31 on Thursday. The firm’s 50-day moving average price is $53.14 and its 200-day moving average price is $50.53. The company has a market capitalization of $570.02 million, a price-to-earnings ratio of 16.92 and a beta of 1.38. Kadant has a one year low of $33.38 and a one year high of $56.57.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.23. Kadant had a return on equity of 13.55% and a net margin of 8.39%. The firm had revenue of $111.83 million for the quarter, compared to analysts’ expectations of $104.44 million. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts anticipate that Kadant will post $3.04 earnings per share for the current year.
In other Kadant news, insider Jonathan W. Painter sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $56.00, for a total value of $168,000.00. Following the completion of the sale, the insider now directly owns 61,337 shares in the company, valued at $3,434,872. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sandra L. Lambert sold 3,316 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $50.85, for a total transaction of $168,618.60. Following the completion of the sale, the vice president now owns 18,604 shares of the company’s stock, valued at $946,013.40. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Zacks Investment Management bought a new stake in shares of Kadant during the second quarter valued at approximately $974,000. TFS Capital LLC bought a new stake in shares of Kadant during the second quarter valued at approximately $829,000. Alliancebernstein L.P. raised its stake in shares of Kadant by 74.8% in the second quarter. Alliancebernstein L.P. now owns 33,220 shares of the company’s stock valued at $1,711,000 after buying an additional 14,210 shares during the period. AQR Capital Management LLC raised its stake in shares of Kadant by 30.0% in the second quarter. AQR Capital Management LLC now owns 49,374 shares of the company’s stock valued at $2,544,000 after buying an additional 11,394 shares during the period. Finally, Ativo Capital Management LLC raised its stake in shares of Kadant by 58.0% in the second quarter. Ativo Capital Management LLC now owns 23,712 shares of the company’s stock valued at $1,221,000 after buying an additional 8,700 shares during the period. Institutional investors and hedge funds own 87.85% of the company’s stock.
Several analysts recently issued reports on KAI shares. Barrington Research raised their target price on Kadant from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. William Blair started coverage on Kadant in a research note on Friday, September 16th. They issued a “market perform” rating and a $49.00 target price on the stock. Seaport Global Securities raised Kadant from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 18th. Finally, Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Kadant presently has an average rating of “Hold” and a consensus target price of $54.00.
Kadant Inc is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts.
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