Kadant (NYSE:KAI) Releases Q2 Earnings Guidance

Kadant (NYSE:KAI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.40-$2.50 for the period, compared to the consensus estimate of $2.56. The company issued revenue guidance of $258-$266 million, compared to the consensus revenue estimate of $266.46 million. Kadant also updated its FY24 guidance to $9.75-$10.05 EPS.

Kadant Price Performance

Shares of Kadant stock traded down $13.37 on Tuesday, hitting $273.79. 125,005 shares of the company were exchanged, compared to its average volume of 92,549. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $311.80 and a 200 day moving average price of $282.12. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 29.00 and a beta of 1.28. Kadant has a 1-year low of $183.67 and a 1-year high of $354.02.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.10 by $0.31. Kadant had a return on equity of 16.20% and a net margin of 12.12%. The business had revenue of $238.68 million for the quarter, compared to analyst estimates of $227.54 million. As a group, sell-side analysts predict that Kadant will post 9.96 earnings per share for the current fiscal year.

Kadant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.29. Kadant’s dividend payout ratio (DPR) is 12.93%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KAI. Barrington Research reissued an outperform rating and set a $360.00 target price on shares of Kadant in a research note on Monday. StockNews.com lowered shares of Kadant from a buy rating to a hold rating in a research note on Thursday, January 4th.

Insider Buying and Selling

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

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.