Kadant Inc. (KAI) To Go Ex-Dividend on January 10th

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Friday, January 10th will be paid a dividend of 0.32 per share by the industrial products company on Thursday, February 6th. This represents a $1.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, January 10th.

Kadant has increased its dividend by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 11 years. Kadant has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kadant to earn $10.58 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 12.1%.

Kadant Stock Down 2.1 %

Shares of NYSE KAI opened at $346.63 on Wednesday. The company’s 50-day simple moving average is $378.03 and its 200-day simple moving average is $339.53. Kadant has a 52-week low of $249.51 and a 52-week high of $429.95. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 35.48 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. The firm had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Kadant’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.69 earnings per share. Equities analysts predict that Kadant will post 10.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research boosted their target price on shares of Kadant from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Thursday, December 19th.

Insider Buying and Selling at Kadant

In related news, Director Rebecca Martinez O’mara sold 300 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $392.59, for a total transaction of $117,777.00. Following the sale, the director now directly owns 1,293 shares of the company’s stock, valued at $507,618.87. This represents a 18.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas C. Leonard sold 152 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $398.21, for a total transaction of $60,527.92. Following the sale, the director now directly owns 4,250 shares in the company, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,052 shares of company stock worth $416,655 in the last ninety days. 1.40% of the stock is owned by insiders.

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.