Analysts expect that Kadant Inc. (NYSE:KAI) will announce $172.92 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Kadant’s earnings, with estimates ranging from $172.00 million to $174.50 million. Kadant reported sales of $165.75 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Kadant will report full-year sales of $705.02 million for the current financial year, with estimates ranging from $701.00 million to $708.89 million. For the next financial year, analysts expect that the company will post sales of $741.14 million, with estimates ranging from $729.00 million to $747.48 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Kadant.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.31. Kadant had a net margin of 9.50% and a return on equity of 18.01%. The firm had revenue of $177.20 million during the quarter, compared to analysts’ expectations of $168.67 million. During the same quarter in the previous year, the company posted $1.07 EPS. Kadant’s revenue was up 14.4% on a year-over-year basis.
Several brokerages have commented on KAI. ValuEngine cut shares of Kadant from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Seaport Global Securities cut shares of Kadant from a “buy” rating to a “neutral” rating and set a $97.09 target price for the company. in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut shares of Kadant from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Kadant has a consensus rating of “Hold” and an average target price of $103.55.
In related news, CEO Jonathan W. Painter sold 10,096 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $88.73, for a total value of $895,818.08. Following the completion of the sale, the chief executive officer now owns 101,437 shares in the company, valued at approximately $9,000,505.01. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Mckenney sold 2,261 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $86.12, for a total transaction of $194,717.32. Following the completion of the sale, the insider now owns 17,318 shares of the company’s stock, valued at approximately $1,491,426.16. The disclosure for this sale can be found here. Insiders have sold a total of 91,949 shares of company stock valued at $8,329,452 in the last quarter. Corporate insiders own 5.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KAI. Wasatch Advisors Inc. increased its position in shares of Kadant by 10.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,240,843 shares of the industrial products company’s stock valued at $112,681,000 after buying an additional 117,255 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Kadant by 1,212.7% during the 4th quarter. Millennium Management LLC now owns 69,942 shares of the industrial products company’s stock worth $5,697,000 after buying an additional 64,614 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Kadant by 53.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 124,044 shares of the industrial products company’s stock worth $10,911,000 after buying an additional 43,344 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Kadant by 5.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 644,300 shares of the industrial products company’s stock worth $58,509,000 after buying an additional 36,000 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Kadant by 2.8% during the 1st quarter. Royce & Associates LP now owns 589,315 shares of the industrial products company’s stock worth $51,836,000 after buying an additional 16,030 shares during the last quarter. Institutional investors and hedge funds own 92.72% of the company’s stock.
Shares of Kadant stock traded down $0.24 on Friday, hitting $82.70. 44,642 shares of the company’s stock traded hands, compared to its average volume of 69,118. The firm has a 50-day moving average price of $88.78. The company has a market cap of $945.69 million, a PE ratio of 14.47 and a beta of 1.24. Kadant has a one year low of $76.44 and a one year high of $111.85. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.94.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, July 10th.
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.
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