Kadant (NYSE:KAI) Rating Reiterated by Barrington Research

Barrington Research restated their outperform rating on shares of Kadant (NYSE:KAI) in a research note published on Friday, Benzinga reports. They currently have a $360.00 price target on the industrial products company’s stock.

Separately, DA Davidson increased their price target on Kadant from $290.00 to $300.00 and gave the stock a neutral rating in a report on Thursday, August 1st.

Kadant Trading Up 0.7 %

KAI opened at $335.41 on Friday. The stock has a market cap of $3.94 billion, a PE ratio of 34.94 and a beta of 1.21. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. Kadant has a twelve month low of $214.21 and a twelve month high of $363.40. The company has a fifty day moving average of $320.50 and a 200-day moving average of $303.18.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. The firm had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 EPS. On average, sell-side analysts predict that Kadant will post 9.93 EPS for the current year.

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 given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant’s payout ratio is 13.33%.

Institutional Trading of Kadant

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Kadant by 46.3% in the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock worth $317,482,000 after purchasing an additional 306,352 shares during the period. Capital World Investors bought a new position in shares of Kadant in the first quarter worth $92,993,000. Wells Fargo & Company MN increased its position in shares of Kadant by 1,578.8% in the fourth quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock worth $20,795,000 after purchasing an additional 69,766 shares during the last quarter. F M Investments LLC bought a new position in Kadant in the second quarter valued at $13,495,000. Finally, Stifel Financial Corp raised its position in Kadant by 2,082.5% during the fourth quarter. Stifel Financial Corp now owns 40,355 shares of the industrial products company’s stock valued at $11,312,000 after purchasing an additional 38,506 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

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.