Research Analysts Issue Forecasts for Kadant Inc.’s Q2 2024 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – DA Davidson issued their Q2 2024 earnings per share estimates for shares of Kadant in a report issued 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.

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

Several other research firms have also recently issued reports on KAI. William Blair reiterated an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th. Barrington Research reiterated an “outperform” rating and set a $360.00 target price on shares of Kadant in a research report on Monday, April 29th.

Kadant Stock Performance

NYSE KAI opened at $281.44 on Monday. 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 business’s 50 day moving average is $305.95 and its two-hundred day moving average is $284.03. Kadant has a 12-month low of $186.99 and a 12-month high of $354.02. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 29.32 and a beta of 1.30.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.32 per share. This is a positive change from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.45%. Kadant’s payout ratio is 13.33%.

Insider Transactions at Kadant

In other news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas C. Leonard sold 217 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly 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 8,798 shares of company stock valued at $2,899,004 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kadant

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Kadant by 58.2% in the 4th quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Kadant by 37.0% in the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System lifted its stake in Kadant by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 3,332 shares of the industrial products company’s stock valued at $752,000 after buying an additional 53 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in 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 buying an additional 57 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its stake in shares of Kadant by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock worth $496,000 after purchasing an additional 80 shares during the period. Hedge funds and other 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.