Kadant Inc. (NYSE:KAI) – Equities researchers at Barrington Research cut their FY2018 EPS estimates for shares of Kadant in a research note issued to investors on Wednesday, October 31st. Barrington Research analyst C. Howe now forecasts that the industrial products company will earn $5.03 per share for the year, down from their previous forecast of $5.05. Barrington Research currently has a “Buy” rating and a $112.00 target price on the stock. Barrington Research also issued estimates for Kadant’s Q4 2018 earnings at $1.36 EPS, Q1 2019 earnings at $1.05 EPS, Q2 2019 earnings at $1.26 EPS, Q3 2019 earnings at $1.75 EPS and Q4 2019 earnings at $1.74 EPS.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. The business had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.72 million. Kadant had a return on equity of 16.12% and a net margin of 6.91%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Kadant from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th.
Shares of NYSE KAI opened at $98.17 on Friday. The company has a market capitalization of $1.10 billion, a P/E ratio of 21.86 and a beta of 1.29. Kadant has a 12-month low of $90.65 and a 12-month high of $111.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.87.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Thursday, October 11th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, October 10th. Kadant’s dividend payout ratio is currently 19.60%.
In related news, CFO Michael J. Mckenney sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $103.00, for a total value of $515,000.00. Following the sale, the chief financial officer now directly owns 11,624 shares in the company, valued at approximately $1,197,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas C. Leonard sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the director now owns 22,100 shares in the company, valued at $2,431,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,500 shares of company stock worth $1,089,175. 5.40% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC increased its position in shares of Kadant by 831.9% during the 2nd quarter. Citadel Advisors LLC now owns 22,870 shares of the industrial products company’s stock valued at $2,199,000 after purchasing an additional 20,416 shares during the period. BTIM Corp. acquired a new position in shares of Kadant during the 2nd quarter valued at $13,551,000. Alps Advisors Inc. acquired a new position in shares of Kadant during the 2nd quarter valued at $524,000. Capital Fund Management S.A. increased its position in shares of Kadant by 40.0% during the 2nd quarter. Capital Fund Management S.A. now owns 5,600 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 1,600 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Kadant during the 2nd quarter valued at $644,000. Institutional investors own 91.50% of the company’s stock.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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