Kadant Inc. (NYSE:KAI) declared a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Shareholders of record on Thursday, January 11th will be given a dividend of 0.21 per share by the industrial products company on Thursday, February 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, January 10th.
Kadant has raised its dividend by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 4 years. Kadant has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kadant to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 17.3%.
Shares of Kadant (NYSE:KAI) opened at $97.25 on Tuesday. Kadant has a 1-year low of $56.15 and a 1-year high of $114.00. The stock has a market cap of $1,070.46, a price-to-earnings ratio of 28.77 and a beta of 1.37. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The firm had revenue of $152.79 million during the quarter, compared to analyst estimates of $141.33 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Kadant’s quarterly revenue was up 44.8% on a year-over-year basis. equities research analysts forecast that Kadant will post 4.39 EPS for the current fiscal year.
Several analysts have recently issued reports on KAI shares. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $104.67.
In related news, CFO Michael J. Mckenney sold 3,600 shares of Kadant stock in a transaction on Monday, December 11th. The shares were sold at an average price of $99.14, for a total value of $356,904.00. Following the transaction, the chief financial officer now directly owns 19,160 shares in the company, valued at approximately $1,899,522.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sandra L. Lambert sold 6,437 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,256 shares of company stock worth $5,450,550. Insiders own 5.59% of the company’s stock.
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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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