William Blair Forecasts Kadant’s FY2024 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Equities researchers at William Blair increased their FY2024 earnings estimates for shares of Kadant in a research report issued on Wednesday, October 30th. William Blair analyst R. Sparenblek now forecasts that the industrial products company will post earnings of $10.12 per share for the year, up from their previous estimate of $10.05. The consensus estimate for Kadant’s current full-year earnings is $9.99 per share.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.69 EPS.

A number of other analysts have also recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, October 30th. DA Davidson boosted their target price on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Kadant Stock Up 3.1 %

KAI opened at $343.38 on Monday. Kadant has a twelve month low of $231.83 and a twelve month high of $363.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. The business has a 50 day moving average price of $323.77 and a 200 day moving average price of $305.97. The firm has a market cap of $4.03 billion, a P/E ratio of 35.15 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KAI. Capital World Investors bought a new stake in Kadant in the first quarter valued at $92,993,000. Susquehanna Fundamental Investments LLC bought a new position in Kadant during the 1st quarter valued at about $670,000. SG Americas Securities LLC lifted its holdings in Kadant by 624.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $1,397,000 after purchasing an additional 3,671 shares during the last quarter. Janus Henderson Group PLC grew its stake in Kadant by 15.1% during the first quarter. Janus Henderson Group PLC now owns 22,324 shares of the industrial products company’s stock worth $7,321,000 after buying an additional 2,923 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 buying an additional 306,352 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 annualized dividend and a dividend yield of 0.37%. Kadant’s payout ratio is 13.10%.

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.