Kadant’s (KAI) “Outperform” Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of Kadant (NYSE:KAI) in a report released on Friday morning, Benzinga reports. They currently have a $360.00 price objective on the industrial products company’s stock.

Separately, DA Davidson increased their price objective on Kadant from $290.00 to $300.00 and gave the stock a neutral rating in a report on Thursday, August 1st.

Kadant Stock Performance

KAI opened at $332.98 on Friday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 34.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant has a 1-year low of $214.21 and a 1-year high of $363.40. The business has a 50 day moving average price of $320.36 and a two-hundred day moving average price of $303.16.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. The company had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. Research analysts predict that Kadant will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant’s payout ratio is 13.33%.

Institutional Investors Weigh In On Kadant

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. lifted its stake in shares of Kadant by 5.2% in the second quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after buying an additional 37 shares during the period. Parallel Advisors LLC grew its holdings 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 purchasing an additional 39 shares during the last quarter. Wealth Alliance grew its holdings in shares of Kadant by 7.0% during the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 47 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Kadant by 7.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 57 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Kadant by 1.9% in the second quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 62 shares during the last quarter. 96.13% of the stock is 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.