Seaport Res Ptn Analysts Lift Earnings Estimates for Kadant

Kadant Inc. (NYSE:KAI) – Seaport Res Ptn increased their FY2024 earnings estimates for shares of Kadant in a note issued to investors on Friday, November 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $10.21 per share for the year, up from their prior forecast of $9.91. The consensus estimate for Kadant’s current full-year earnings is $9.99 per share. Seaport Res Ptn also issued estimates for Kadant’s Q4 2024 earnings at $2.18 EPS and Q4 2025 earnings at $2.46 EPS.

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

KAI has been the topic of several other research reports. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Wednesday, October 30th. 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.

Kadant Price Performance

Shares of NYSE KAI opened at $349.69 on Monday. Kadant has a fifty-two week low of $242.07 and a fifty-two week high of $363.40. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 35.79 and a beta of 1.21. 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 firm’s 50-day simple moving average is $323.77 and its 200 day simple moving average is $306.11.

Institutional Investors Weigh In On Kadant

Several large investors have recently modified their holdings of KAI. Janney Montgomery Scott LLC purchased a new stake in shares of Kadant during the 1st quarter worth approximately $209,000. Fidelis Capital Partners LLC purchased a new position in Kadant in the 1st quarter valued at approximately $141,000. Envestnet Portfolio Solutions Inc. grew its stake in Kadant by 7.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after buying an additional 57 shares in the last quarter. SG Americas Securities LLC grew its stake in Kadant by 624.3% in 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 buying an additional 3,671 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Kadant in the 1st quarter valued at approximately $670,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insider Buying and Selling at Kadant

In other Kadant 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Kadant Dividend Announcement

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

Kadant Company Profile

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.