Kadant Inc. to Post Q2 2024 Earnings of $2.46 Per Share, DA Davidson Forecasts (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for Kadant in a research report issued to clients and investors on Friday, May 3rd. DA Davidson analyst K. Yinger forecasts that the industrial products company will post earnings per share of $2.46 for the quarter. The consensus estimate for Kadant’s current full-year earnings is $10.00 per share. DA Davidson also issued estimates for Kadant’s FY2024 earnings at $10.03 EPS and FY2025 earnings at $10.79 EPS.

Kadant (NYSE:KAI) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.42. The company had revenue of $248.98 million during the quarter, compared to the consensus estimate of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.88%. Kadant’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.40 earnings per share.

Several other analysts have also recently issued reports on KAI. William Blair reaffirmed an “outperform” rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research restated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research note on Monday, April 29th.

Kadant Stock Up 3.1 %

Kadant stock opened at $281.00 on Monday. The company’s 50 day simple moving average is $307.75 and its 200 day simple moving average is $283.24. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 29.27 and a beta of 1.30. Kadant has a fifty-two week low of $186.99 and a fifty-two week high of $354.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.05 and a quick ratio of 1.34.

Kadant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be given a dividend of $0.32 per share. This is a boost from Kadant’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 9th. This represents a $1.28 annualized dividend and a yield of 0.46%. Kadant’s dividend payout ratio is currently 13.33%.

Insider Activity

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the transaction, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total transaction of $70,266.77. Following the transaction, the director now owns 11,080 shares in the company, valued at approximately $3,587,814.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the sale, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The disclosure for this sale can be found here. Insiders sold a total of 8,798 shares of company stock worth $2,899,004 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Trading of Kadant

Institutional investors have recently added to or reduced their stakes in the business. Headinvest LLC acquired a new stake in Kadant during the 3rd quarter worth about $25,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Kadant during the 1st quarter valued at approximately $28,000. Parallel Advisors LLC increased its stake in shares of Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 39 shares during the period. First Horizon Advisors Inc. boosted its holdings in Kadant by 37.0% in the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 50 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Kadant during the 4th quarter valued at $54,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.