Kadant Inc (NYSE:KAI) – Seaport Global Securities boosted their FY2017 earnings per share (EPS) estimates for Kadant in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $4.40 for the year, up from their previous forecast of $4.00. Seaport Global Securities also issued estimates for Kadant’s Q4 2017 earnings at $1.08 EPS and Q3 2018 earnings at $1.37 EPS.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Sidoti downgraded Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price for the company. in a report on Tuesday, October 3rd. Finally, BidaskClub downgraded Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $104.67.
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Kadant (NYSE:KAI) opened at $101.85 on Thursday. The stock has a market capitalization of $1,121.06, a PE ratio of 25.34 and a beta of 1.43. Kadant has a 1 year low of $56.15 and a 1 year high of $114.00. The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.84.
Kadant (NYSE:KAI) last released its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.35. The business had revenue of $152.79 million during the quarter, compared to analysts’ expectations of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. raised its stake in Kadant by 12.7% during the 3rd quarter. Macquarie Group Ltd. now owns 506,956 shares of the industrial products company’s stock valued at $49,960,000 after acquiring an additional 57,222 shares during the last quarter. Vanguard Group Inc. raised its stake in Kadant by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 471,416 shares of the industrial products company’s stock valued at $35,450,000 after acquiring an additional 16,174 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Kadant by 7.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 345,000 shares of the industrial products company’s stock valued at $25,944,000 after acquiring an additional 23,000 shares during the last quarter. Northern Trust Corp raised its stake in Kadant by 9.1% during the 2nd quarter. Northern Trust Corp now owns 290,388 shares of the industrial products company’s stock valued at $21,836,000 after acquiring an additional 24,194 shares during the last quarter. Finally, State Street Corp raised its stake in Kadant by 1.3% during the 2nd quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock valued at $17,590,000 after acquiring an additional 2,895 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Sandra L. Lambert sold 6,437 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total value of $699,444.42. Following the completion of the sale, the vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $2,275,557.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Tully sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.60, for a total value of $112,000.00. Following the sale, the director now directly owns 5,250 shares of the company’s stock, valued at $470,400. The disclosure for this sale can be found here. Insiders sold a total of 27,687 shares of company stock valued at $2,887,844 over the last three months. Company insiders own 5.59% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Wednesday, October 11th. Kadant’s payout ratio is currently 24.85%.
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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