Kadant Inc (KAI) Receives Consensus Rating of “Hold” from Analysts
Shares of Kadant Inc (NYSE:KAI) have been assigned an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $94.00.
A number of brokerages recently weighed in on KAI. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 target price for the company in a research note on Saturday, August 5th. Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price for the company. in a research note on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.
Shares of Kadant (NYSE KAI) opened at 101.65 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of 33.56 and a beta of 1.36. The company’s 50-day moving average price is $95.33 and its 200-day moving average price is $79.76. Kadant has a 52-week low of $50.25 and a 52-week high of $101.80.
Kadant (NYSE:KAI) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The firm had revenue of $110.24 million during the quarter, compared to analyst estimates of $113.49 million. Kadant had a net margin of 8.10% and a return on equity of 12.68%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Equities analysts expect that Kadant will post $4.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, October 11th. Kadant’s payout ratio is presently 27.72%.
In other news, Director William P. Tully sold 1,250 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.59% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Kadant by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,302 shares of the industrial products company’s stock worth $625,000 after buying an additional 92 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Kadant by 24.2% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after buying an additional 275 shares during the last quarter. AlphaOne Investment Services LLC boosted its stake in shares of Kadant by 0.8% during the 2nd quarter. AlphaOne Investment Services LLC now owns 44,943 shares of the industrial products company’s stock worth $3,380,000 after buying an additional 350 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Kadant by 6.3% during the 2nd quarter. Voya Investment Management LLC now owns 6,861 shares of the industrial products company’s stock worth $516,000 after buying an additional 408 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Kadant by 7.1% during the 1st quarter. American International Group Inc. now owns 6,601 shares of the industrial products company’s stock worth $392,000 after buying an additional 435 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.
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Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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