Kadant Inc. (NYSE:KAI – Get Rating) – Equities researchers at Seaport Res Ptn boosted their FY2022 earnings per share estimates for Kadant in a report released on Tuesday, September 20th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $9.04 per share for the year, up from their prior forecast of $8.98. The consensus estimate for Kadant's current full-year earnings is $8.95 per share.
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Separately, Barrington Research cut their price target on Kadant from $248.00 to $239.00 and set an "outperform" rating for the company in a report on Monday.
Kadant Stock Up 0.5 %
Shares of KAI stock opened at $173.92 on Wednesday. Kadant has a 12 month low of $165.37 and a 12 month high of $240.47. The firm has a market cap of $2.03 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. The stock has a 50 day moving average of $188.99 and a 200-day moving average of $188.74. The company has a quick ratio of 1.12, a current ratio of 1.85 and a debt-to-equity ratio of 0.37.
Kadant Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 13th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Kadant's payout ratio is 10.84%.
Insider Activity at Kadant
In related news, Director John M. Albertine sold 1,200 shares of the company's stock in a transaction on Monday, September 19th. The stock was sold at an average price of $170.00, for a total value of $204,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at $1,158,210. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kadant news, Director John M. Albertine sold 1,200 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $170.00, for a total transaction of $204,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at $1,158,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William P. Tully sold 505 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $171.36, for a total value of $86,536.80. Following the transaction, the director now owns 3,346 shares of the company's stock, valued at $573,370.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of KAI. Wasatch Advisors Inc. raised its stake in Kadant by 3.6% during the first quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company's stock worth $312,399,000 after acquiring an additional 55,595 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Kadant by 521.4% during the second quarter. Goldman Sachs Group Inc. now owns 60,104 shares of the industrial products company's stock worth $10,960,000 after acquiring an additional 50,432 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Kadant by 2,063.4% during the second quarter. ProShare Advisors LLC now owns 46,772 shares of the industrial products company's stock worth $8,528,000 after purchasing an additional 44,610 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Kadant by 7.6% during the second quarter. Royce & Associates LP now owns 481,230 shares of the industrial products company's stock worth $87,752,000 after purchasing an additional 33,783 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in shares of Kadant by 193.3% during the fourth quarter. Credit Suisse AG now owns 46,751 shares of the industrial products company's stock worth $10,774,000 after purchasing an additional 30,813 shares during the last quarter. 96.40% of the stock is currently owned by institutional investors and hedge funds.
Kadant Company Profile
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Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.
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