Kadant Inc. (KAI) to Issue Quarterly Dividend of $0.32 on February 6th

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Thursday, January 9th will be given a dividend of 0.32 per share by the industrial products company on Thursday, February 6th. This represents a $1.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Thursday, January 9th.

Kadant has raised its dividend by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Kadant has a payout ratio of 12.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kadant to earn $10.58 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 12.1%.

Kadant Stock Down 0.2 %

KAI stock opened at $391.88 on Friday. Kadant has a twelve month low of $249.51 and a twelve month high of $422.54. The company has a market cap of $4.60 billion, a PE ratio of 40.11 and a beta of 1.21. The business’s 50-day simple moving average is $338.30 and its 200 day simple moving average is $313.18. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.41. The business had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.10% and a net margin of 11.12%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $2.69 earnings per share. On average, research analysts anticipate that Kadant will post 10.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on KAI shares. DA Davidson raised their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barrington Research restated an “outperform” rating and set a $360.00 price target on shares of Kadant in a research note on Wednesday, October 30th.

Insider Activity

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction that occurred on 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 transaction, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. The trade was a 32.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

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.