Wall Street brokerages expect Kadant Inc. (NYSE:KAI) to announce sales of $145.40 million for the current quarter, according to Zacks. Three analysts have made estimates for Kadant’s earnings. The highest sales estimate is $146.00 million and the lowest is $144.53 million. Kadant reported sales of $102.86 million during the same quarter last year, which would suggest a positive year over year growth rate of 41.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that Kadant will report full year sales of $145.40 million for the current fiscal year, with estimates ranging from $614.82 million to $616.42 million. For the next financial year, analysts expect that the firm will post sales of $647.37 million per share, with estimates ranging from $646.74 million to $648.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Kadant.
Kadant (NYSE:KAI) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The business had revenue of $149.14 million for the quarter, compared to the consensus estimate of $144.50 million.
KAI has been the topic of several recent research reports. ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Barrington Research reiterated an “outperform” rating and issued a $110.00 target price on shares of Kadant in a research note on Thursday, March 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Kadant currently has a consensus rating of “Buy” and an average price target of $112.67.
Shares of Kadant (KAI) opened at $102.00 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.01 and a quick ratio of 1.37. Kadant has a 12-month low of $56.15 and a 12-month high of $114.00. The stock has a market capitalization of $1,143.61, a price-to-earnings ratio of 36.96 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Thursday, April 12th will be paid a $0.22 dividend. This is a positive change from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, April 11th. Kadant’s dividend payout ratio is presently 30.43%.
In related news, VP Sandra L. Lambert sold 2,475 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $104.51, for a total value of $258,662.25. Following the completion of the transaction, the vice president now directly owns 13,190 shares in the company, valued at $1,378,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric T. Langevin sold 7,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $99.62, for a total value of $697,340.00. Following the completion of the transaction, the chief operating officer now owns 34,382 shares of the company’s stock, valued at $3,425,134.84. The disclosure for this sale can be found here. Insiders sold 38,954 shares of company stock valued at $3,913,832 over the last quarter. Insiders own 5.59% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its stake in Kadant by 6.1% in the fourth quarter. Handelsbanken Fonder AB now owns 350,000 shares of the industrial products company’s stock valued at $35,140,000 after purchasing an additional 20,000 shares during the last quarter. Sterling Capital Management LLC increased its stake in Kadant by 19.3% in the fourth quarter. Sterling Capital Management LLC now owns 22,269 shares of the industrial products company’s stock valued at $2,236,000 after purchasing an additional 3,595 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Kadant in the fourth quarter valued at $469,000. Macquarie Group Ltd. increased its stake in Kadant by 6.8% during the fourth quarter. Macquarie Group Ltd. now owns 541,570 shares of the industrial products company’s stock worth $54,374,000 after acquiring an additional 34,614 shares during the last quarter. Finally, Sensato Investors LLC increased its stake in Kadant by 103.5% during the fourth quarter. Sensato Investors LLC now owns 6,134 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 3,120 shares during the last quarter. Hedge funds and other institutional investors own 90.74% 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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