Kadant Inc. (NYSE:KAI) Expected to Earn Q3 2024 Earnings of $2.47 Per Share

Kadant Inc. (NYSE:KAI) – Equities researchers at William Blair cut their Q3 2024 earnings estimates for Kadant in a report released on Thursday, August 1st. William Blair analyst R. Sparenblek now expects that the industrial products company will post earnings per share of $2.47 for the quarter, down from their previous forecast of $2.70. William Blair has a “Outperform” rating on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.95 per share. William Blair also issued estimates for Kadant’s Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.05 EPS and FY2025 earnings at $11.20 EPS.

A number of other research analysts have also recently issued reports on the stock. DA Davidson raised their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barrington Research restated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Wednesday, June 26th.

Kadant Trading Up 0.4 %

NYSE KAI opened at $303.09 on Monday. The company has a fifty day simple moving average of $304.13 and a two-hundred day simple moving average of $301.97. The stock has a market cap of $3.56 billion, a P/E ratio of 31.57 and a beta of 1.24. Kadant has a 12-month low of $210.43 and a 12-month high of $363.40. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39.

Kadant (NYSE:KAI) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.73%. Kadant’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $2.54 earnings per share.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a $0.32 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.42%. Kadant’s dividend payout ratio (DPR) is 13.33%.

Insider Activity

In other news, Director Erin L. Russell sold 1,112 shares of Kadant stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the sale, the director now owns 3,802 shares in the company, valued at $1,061,708.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kadant

A number of institutional investors and hedge funds have recently bought and sold shares of KAI. Vanguard Group Inc. boosted its position in Kadant by 46.3% during the first quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock worth $317,482,000 after acquiring an additional 306,352 shares during the last quarter. Capital World Investors acquired a new position in Kadant during the first quarter worth about $92,993,000. Wells Fargo & Company MN boosted its position in Kadant by 1,578.8% during the fourth quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock worth $20,795,000 after acquiring an additional 69,766 shares during the last quarter. F M Investments LLC acquired a new position in Kadant during the second quarter worth about $13,495,000. Finally, Stifel Financial Corp boosted its position in Kadant by 2,082.5% during the fourth quarter. Stifel Financial Corp now owns 40,355 shares of the industrial products company’s stock worth $11,312,000 after acquiring an additional 38,506 shares during the last quarter. 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.