Kadant Inc. (NYSE:KAI) Expected to Earn Q2 2024 Earnings of $2.46 Per Share

Kadant Inc. (NYSE:KAI) – DA Davidson issued their Q2 2024 earnings per share estimates for Kadant in a report released on Friday, May 3rd. DA Davidson analyst K. Yinger forecasts that the industrial products company will post earnings of $2.46 per share for the quarter. The consensus estimate for Kadant’s current full-year earnings is $10.00 per share. DA Davidson also issued estimates for Kadant’s FY2024 earnings at $10.03 EPS and FY2025 earnings at $10.79 EPS.

Several other equities research analysts have also recently weighed in on KAI. Barrington Research restated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research report on Monday, April 29th. William Blair reaffirmed an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th.

Kadant Stock Performance

NYSE:KAI opened at $281.00 on Monday. The company has a market capitalization of $3.30 billion, a P/E ratio of 29.27 and a beta of 1.30. Kadant has a twelve month low of $186.99 and a twelve month high of $354.02. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $307.75 and a two-hundred day moving average price of $283.24.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.42. The company had revenue of $248.98 million for the quarter, compared to analyst estimates of $245.56 million. Kadant had a return on equity of 15.88% and a net margin of 11.53%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share.

Hedge Funds Weigh In On Kadant

A number of institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. bought a new position in Kadant during the first quarter valued at about $28,000. Parallel Advisors LLC grew its position in Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Headinvest LLC bought a new stake in Kadant in the third quarter worth $25,000. First Horizon Advisors Inc. boosted its stake in Kadant by 37.0% during the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 50 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Kadant in the fourth quarter worth about $54,000. 96.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas C. Leonard sold 217 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the sale, the director now owns 11,080 shares in the company, valued at $3,587,814.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the transaction, the director now owns 11,080 shares in the company, valued at approximately $3,587,814.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,798 shares of company stock valued at $2,899,004 over the last three months. 1.40% of the stock is owned by company insiders.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from Kadant’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 0.46%. Kadant’s dividend payout ratio is 13.33%.

Kadant Company Profile

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.