Kadant Inc. (NYSE:KAI) announced 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 0.84%. The ex-dividend date of this dividend is Wednesday, January 10th.
Kadant has increased its dividend by an average of 12.6% annually 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% indicating that its dividend is sufficiently covered by earnings. 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%.
Kadant (NYSE KAI) traded up $0.85 during trading on Wednesday, reaching $100.25. The company’s stock had a trading volume of 81,057 shares, compared to its average volume of 53,693. Kadant has a 52 week low of $56.15 and a 52 week high of $114.00. The stock has a market capitalization of $1,094.68, a PE ratio of 29.66 and a beta of 1.37. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35.
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, topping the consensus estimate of $1.14 by $0.35. The firm 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 company’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. equities research analysts predict that Kadant will post 4.39 EPS for the current fiscal year.
In related news, CFO Michael J. Mckenney sold 3,600 shares of Kadant stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $99.14, for a total transaction of $356,904.00. Following the transaction, the chief financial officer now owns 19,160 shares in the company, valued at $1,899,522.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric T. Langevin sold 700 shares of Kadant stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $100.56, for a total value of $70,392.00. Following the completion of the sale, the chief operating officer now owns 28,850 shares in the company, valued at approximately $2,901,156. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,819 shares of company stock worth $2,674,705. 5.59% of the stock is currently owned by company insiders.
Several brokerages have commented on KAI. Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective on the stock. in a report on Tuesday, October 3rd. ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price target on the stock in a research note on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Kadant presently has an average rating of “Hold” and a consensus price target of $104.67.
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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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