Kadant (KAI) Expected to Announce Quarterly Sales of $145.40 Million

Equities research analysts expect Kadant (NYSE:KAI) to post $145.40 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Kadant’s earnings, with the highest sales estimate coming in at $146.00 million and the lowest estimate coming in at $144.53 million. Kadant posted sales of $102.86 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.4%. The business is expected to report its next quarterly earnings report on Tuesday, May 1st.

On average, analysts expect that Kadant will report full-year sales of $145.40 million for the current year, with estimates ranging from $614.82 million to $616.42 million. For the next fiscal year, analysts expect that the firm will post sales of $647.37 million per share, with estimates ranging from $646.74 million to $648.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kadant.

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Kadant (NYSE:KAI) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Kadant had a net margin of 6.04% and a return on equity of 15.93%. The company had revenue of $149.14 million during the quarter, compared to the consensus estimate of $144.50 million.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Kadant in a research report on Thursday, March 1st. Finally, ValuEngine downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Kadant has a consensus rating of “Buy” and an average target price of $105.33.

In other news, VP Sandra L. Lambert sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $104.51, for a total transaction of $258,662.25. Following the completion of the sale, the vice president now owns 13,190 shares of the company’s stock, valued at $1,378,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey L. Powell sold 7,277 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $100.38, for a total transaction of $730,465.26. Following the sale, the insider now directly owns 7,102 shares of the company’s stock, valued at approximately $712,898.76. The disclosure for this sale can be found here. Insiders sold 15,854 shares of company stock valued at $1,607,931 in the last ninety days. 5.59% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Anderson Hoagland & Co. acquired a new stake in shares of Kadant during the fourth quarter worth approximately $896,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Kadant during the third quarter worth approximately $473,000. Cortina Asset Management LLC grew its position in shares of Kadant by 2.7% during the fourth quarter. Cortina Asset Management LLC now owns 187,004 shares of the industrial products company’s stock worth $18,775,000 after buying an additional 4,880 shares in the last quarter. Invictus RG acquired a new stake in shares of Kadant during the third quarter worth approximately $476,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Kadant by 3.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 65,472 shares of the industrial products company’s stock worth $6,574,000 after buying an additional 2,123 shares in the last quarter. 90.70% of the stock is owned by institutional investors and hedge funds.

NYSE:KAI traded down $1.95 during trading hours on Monday, hitting $93.90. The stock had a trading volume of 52,860 shares, compared to its average volume of 57,154. The company has a quick ratio of 1.37, a current ratio of 2.01 and a debt-to-equity ratio of 0.73. Kadant has a 1-year low of $57.55 and a 1-year high of $114.00. The company has a market capitalization of $1,057.04, a price-to-earnings ratio of 20.91 and a beta of 1.37.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, April 12th will be given a $0.22 dividend. This is an increase from Kadant’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.88 annualized dividend and a yield of 0.94%. Kadant’s dividend payout ratio (DPR) is 18.71%.

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About Kadant

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.

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