Kadant Inc. to Issue Quarterly Dividend of $0.32 (NYSE:KAI)

Kadant Inc. (NYSE:KAIGet Free Report) announced a quarterly dividend on Thursday, May 16th, Wall Street Journal reports. Investors of record on Thursday, July 11th will be given a dividend of 0.32 per share by the industrial products company on Thursday, August 8th. This represents a $1.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, July 11th.

Kadant has raised its dividend payment by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 11 years. Kadant has a dividend payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kadant to earn $10.84 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 11.8%.

Kadant Stock Performance

Kadant stock opened at $278.67 on Friday. Kadant has a fifty-two week low of $186.99 and a fifty-two week high of $354.02. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 29.03 and a beta of 1.30. The stock has a fifty day moving average of $298.69 and a two-hundred day moving average of $286.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05.

Kadant (NYSE:KAIGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.42. The firm had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. On average, analysts anticipate that Kadant will post 10.01 EPS for the current fiscal year.

Insider Activity

In related news, SVP Stacy D. Krause sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $327.00, for a total value of $228,900.00. Following the sale, the senior vice president now directly owns 881 shares of the company’s stock, valued at $288,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Stacy D. Krause sold 700 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total value of $228,900.00. Following the transaction, the senior vice president now directly owns 881 shares of the company’s stock, valued at approximately $288,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas C. Leonard sold 217 shares of the business’s 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 sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The disclosure for this sale can be found here. Insiders sold a total of 8,798 shares of company stock valued at $2,899,004 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KAI has been the topic of several recent analyst reports. Barrington Research reissued an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research note on Monday, April 29th. William Blair reissued an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th.

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Kadant Company Profile

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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.

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Dividend History for Kadant (NYSE:KAI)

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