Seaport Res Ptn Weighs in on Kadant Inc.’s Q3 2022 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAIGet Rating) – Equities research analysts at Seaport Res Ptn upped their Q3 2022 EPS estimates for Kadant in a research report issued on Tuesday, September 20th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings per share of $2.21 for the quarter, up from their previous forecast of $2.07. The consensus estimate for Kadant’s current full-year earnings is $8.97 per share. Seaport Res Ptn also issued estimates for Kadant’s Q4 2022 earnings at $2.30 EPS, Q1 2023 earnings at $2.32 EPS, Q3 2023 earnings at $2.21 EPS, Q4 2023 earnings at $2.29 EPS and FY2023 earnings at $9.17 EPS.

Separately, Barrington Research cut their price objective on shares of Kadant from $248.00 to $239.00 and set an “outperform” rating for the company in a research report on Monday.

Kadant Stock Performance

NYSE:KAI opened at $170.83 on Thursday. The firm has a 50 day simple moving average of $188.67 and a 200-day simple moving average of $188.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.12. The firm has a market cap of $1.99 billion, a PE ratio of 17.81, a P/E/G ratio of 2.42 and a beta of 1.21. Kadant has a 1-year low of $165.37 and a 1-year high of $240.47.

Kadant (NYSE:KAIGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.27. The business had revenue of $221.65 million during the quarter, compared to analyst estimates of $219.37 million. Kadant had a net margin of 12.92% and a return on equity of 17.77%.

Kadant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.61%. Kadant’s payout ratio is 10.84%.

Insider Activity at Kadant

In related news, Director John M. Albertine sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $170.00, for a total value of $204,000.00. Following the completion of the sale, the director now directly owns 6,813 shares in the company, valued at $1,158,210. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kadant news, Director John M. Albertine sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $170.00, for a total transaction of $204,000.00. Following the completion of the sale, the director now directly owns 6,813 shares in the company, valued at $1,158,210. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William P. Tully sold 505 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $171.36, for a total transaction of $86,536.80. Following the sale, the director now owns 3,346 shares of the company’s stock, valued at $573,370.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Kadant

Several institutional investors have recently bought and sold shares of KAI. Advisor Group Holdings Inc. grew its stake in Kadant by 29.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 717 shares of the industrial products company’s stock worth $167,000 after buying an additional 164 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Kadant by 7.6% during the fourth quarter. BNP Paribas Arbitrage SA now owns 2,487 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 175 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Kadant by 21.9% during the fourth quarter. Teacher Retirement System of Texas now owns 2,262 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 406 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kadant by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,571 shares of the industrial products company’s stock worth $22,719,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Kadant during the fourth quarter worth $280,000. 96.40% of the stock is currently owned by hedge funds and other institutional investors.

Kadant Company Profile

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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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Earnings History and Estimates for Kadant (NYSE:KAI)

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