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

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Thursday, October 10th will be paid a dividend of 0.32 per share by the industrial products company on Thursday, November 7th. This represents a $1.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, October 10th.

Kadant has increased its dividend by an average of 6.0% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Kadant has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kadant to earn $10.69 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 12.0%.

Kadant Stock Down 0.9 %

NYSE:KAI opened at $323.28 on Tuesday. The stock has a fifty day simple moving average of $318.12 and a 200-day simple moving average of $303.84. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 33.68 and a beta of 1.21. Kadant has a twelve month low of $214.21 and a twelve month high of $363.40.

Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) 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 analysts’ expectations of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. Analysts anticipate that Kadant will post 9.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KAI. Barrington Research reiterated an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Friday, September 20th. DA Davidson increased their price objective 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.

Insider Buying and Selling

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

About Kadant

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.