Kadant Inc. (NYSE:KAI) – Analysts at William Blair issued their FY2021 earnings per share (EPS) estimates for Kadant in a research note issued on Thursday, January 2nd. William Blair analyst N. Heymann forecasts that the industrial products company will earn $7.25 per share for the year.
Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.27 by $0.14. The firm had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $172.94 million. Kadant had a return on equity of 16.76% and a net margin of 9.00%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 earnings per share.
Several other equities analysts have also recently weighed in on KAI. Zacks Investment Research raised shares of Kadant from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. ValuEngine cut shares of Kadant from a “hold” rating to a “sell” rating in a research note on Saturday. Barrington Research set a $107.00 price objective on shares of Kadant and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Sidoti started coverage on shares of Kadant in a research note on Monday, December 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Kadant presently has an average rating of “Hold” and a consensus target price of $100.03.
Shares of Kadant stock opened at $107.95 on Friday. Kadant has a 12-month low of $77.67 and a 12-month high of $108.16. The stock has a market cap of $1.22 billion, a P/E ratio of 18.67 and a beta of 1.34. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $101.14 and its 200-day moving average is $90.69.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Wednesday, January 8th.
In related news, Chairman Jonathan W. Painter sold 9,201 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $105.67, for a total value of $972,269.67. Following the transaction, the chairman now directly owns 99,261 shares in the company, valued at $10,488,909.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jonathan W. Painter sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $88.60, for a total transaction of $354,400.00. Following the transaction, the chairman now directly owns 97,317 shares in the company, valued at $8,622,286.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,054 shares of company stock worth $7,988,952. 5.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of Kadant by 1.5% in the third quarter. California State Teachers Retirement System now owns 17,124 shares of the industrial products company’s stock valued at $1,503,000 after buying an additional 255 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Kadant by 6.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 293 shares during the last quarter. Swiss National Bank grew its position in Kadant by 2.5% in the second quarter. Swiss National Bank now owns 20,700 shares of the industrial products company’s stock valued at $1,880,000 after acquiring an additional 500 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Kadant by 2.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 25,893 shares of the industrial products company’s stock valued at $2,277,000 after acquiring an additional 638 shares during the last quarter. Finally, Hancock Whitney Corp raised its stake in Kadant by 11.4% during the second quarter. Hancock Whitney Corp now owns 8,565 shares of the industrial products company’s stock worth $778,000 after acquiring an additional 879 shares in the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.
Kadant Company Profile
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.