Kadant Inc. Expected to Earn Q3 2024 Earnings of $2.37 Per Share (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Stock analysts at Barrington Research reduced their Q3 2024 EPS estimates for Kadant in a research report issued on Thursday, August 1st. Barrington Research analyst G. Prestopino now forecasts that the industrial products company will post earnings per share of $2.37 for the quarter, down from their previous forecast of $2.65. Barrington Research currently has a “Outperform” rating and a $360.00 target price on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.95 per share. Barrington Research also issued estimates for Kadant’s Q3 2025 earnings at $2.62 EPS and FY2025 earnings at $10.59 EPS.

Other equities analysts have also issued research reports about the stock. William Blair restated an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th. DA Davidson increased their target price on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

Kadant Trading Up 0.4 %

Shares of KAI stock opened at $303.09 on Monday. The stock has a 50-day simple moving average of $304.13 and a 200 day simple moving average of $301.97. The stock has a market capitalization of $3.56 billion, a P/E ratio of 31.57 and a beta of 1.24. Kadant has a fifty-two week low of $210.43 and a fifty-two week high of $363.40. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39.

Kadant (NYSE:KAI) last issued its quarterly 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. Kadant had a return on equity of 15.73% and a net margin of 11.35%. The firm had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. During the same period last year, the company posted $2.54 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis.

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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio is 13.33%.

Insider Activity at Kadant

In other Kadant news, Director Erin L. Russell sold 1,112 shares of the firm’s 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 completion of the transaction, the director now directly owns 3,802 shares in the company, valued at $1,061,708.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kadant

Several hedge funds have recently made changes to their positions in KAI. Vanguard Group Inc. grew its stake in Kadant by 46.3% during the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock valued at $317,482,000 after acquiring an additional 306,352 shares in the last quarter. Capital World Investors acquired a new stake in shares of Kadant during the first quarter worth approximately $92,993,000. Wells Fargo & Company MN grew 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 valued at $20,795,000 after purchasing an additional 69,766 shares in the last quarter. F M Investments LLC acquired a new position in Kadant in the 2nd quarter valued at approximately $13,495,000. Finally, Stifel Financial Corp lifted its position in Kadant by 2,082.5% in the 4th quarter. Stifel Financial Corp now owns 40,355 shares of the industrial products company’s stock worth $11,312,000 after buying an additional 38,506 shares in the last quarter. Hedge funds and other institutional investors own 96.13% 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.