Kadant Inc. (NYSE:KAI) – Research analysts at Barrington Research lowered their Q3 2020 earnings estimates for Kadant in a report released on Thursday, October 22nd. Barrington Research analyst C. Howe now forecasts that the industrial products company will post earnings per share of $1.00 for the quarter, down from their previous estimate of $1.01. Barrington Research currently has a “Hold” rating on the stock. Barrington Research also issued estimates for Kadant’s Q4 2020 earnings at $1.22 EPS and FY2020 earnings at $4.37 EPS.
Several other equities research analysts have also recently commented on KAI. DA Davidson boosted their target price on Kadant from $75.00 to $105.00 in a research note on Monday, July 27th. Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $106.25.
NYSE:KAI opened at $120.00 on Friday. Kadant has a fifty-two week low of $52.71 and a fifty-two week high of $127.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.94 and a quick ratio of 1.20. The stock has a market capitalization of $1.38 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 3.36 and a beta of 1.41. The business’s 50-day simple moving average is $114.11 and its 200-day simple moving average is $102.56.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.32. Kadant had a return on equity of 13.21% and a net margin of 7.33%. The firm had revenue of $152.90 million during the quarter, compared to analyst estimates of $149.86 million. During the same period last year, the company earned $1.42 earnings per share. The company’s revenue was down 13.7% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Kadant by 2.5% in the 1st 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. Parametric Portfolio Associates LLC lifted its position in Kadant by 2.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,687 shares of the industrial products company’s stock valued at $2,141,000 after acquiring an additional 587 shares in the last quarter. Deutsche Bank AG lifted its position in Kadant by 237.1% in the 1st quarter. Deutsche Bank AG now owns 13,603 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 9,568 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Kadant by 40.8% during the 1st quarter. Legal & General Group Plc now owns 5,920 shares of the industrial products company’s stock valued at $524,000 after buying an additional 1,716 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Kadant by 34.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,125 shares of the industrial products company’s stock valued at $307,000 after buying an additional 1,049 shares during the period. 95.60% of the stock is owned by hedge funds and other institutional investors.
In other Kadant news, VP Stacy D. Krause sold 1,036 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $116.56, for a total value of $120,756.16. Also, Director John M. Albertine sold 3,500 shares of Kadant stock in a transaction on Friday, September 25th. The shares were sold at an average price of $104.15, for a total value of $364,525.00. Following the completion of the transaction, the director now owns 6,991 shares of the company’s stock, valued at $728,112.65. The disclosure for this sale can be found here. Insiders sold 6,100 shares of company stock worth $664,090 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 15th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.96 annualized dividend and a yield of 0.80%. Kadant’s payout ratio is currently 17.91%.
Kadant Company Profile
Kadant Inc supplies equipment and critical components worldwide. The company's 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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