Q2 2024 EPS Estimates for Kadant Inc. (NYSE:KAI) Cut by Barrington Research

Kadant Inc. (NYSE:KAI) – Analysts at Barrington Research decreased their Q2 2024 earnings estimates for Kadant in a research note issued to investors on Thursday, May 2nd. Barrington Research analyst G. Prestopino now forecasts that the industrial products company will earn $2.43 per share for the quarter, down from their previous estimate of $2.53. Barrington Research has a “Outperform” rating and a $360.00 price objective on the stock. The consensus estimate for Kadant’s current full-year earnings is $10.00 per share. Barrington Research also issued estimates for Kadant’s Q3 2024 earnings at $2.65 EPS, Q2 2025 earnings at $2.63 EPS and Q3 2025 earnings at $2.90 EPS.

Separately, William Blair restated an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th.

Kadant Trading Up 0.1 %

Shares of NYSE:KAI opened at $281.44 on Monday. Kadant has a 12 month low of $186.99 and a 12 month high of $354.02. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $305.95 and its 200 day simple moving average is $284.03. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 29.32 and a beta of 1.30.

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

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. Kadant’s dividend payout ratio (DPR) is presently 13.33%.

Insider Activity at Kadant

In related news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stacy D. Krause sold 700 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total transaction of $228,900.00. Following the completion of the transaction, the senior vice president now directly owns 881 shares of the company’s stock, valued at approximately $288,087. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,798 shares of company stock valued at $2,899,004. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its position in shares of Kadant by 3.7% in the 1st quarter. Sei Investments Co. now owns 58,409 shares of the industrial products company’s stock valued at $19,164,000 after acquiring an additional 2,083 shares during the period. Quantum Private Wealth LLC grew its position in shares of Kadant by 29.0% in the 1st quarter. Quantum Private Wealth LLC now owns 1,317 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 296 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Kadant in the 1st quarter valued at about $670,000. SG Americas Securities LLC grew its position in shares of Kadant by 624.3% in the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $1,397,000 after acquiring an additional 3,671 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Kadant by 7.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 57 shares during the period. Institutional investors own 96.13% of the company’s stock.

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.