Kadant Inc (KAI) to Issue $0.21 Quarterly Dividend
Kadant Inc (NYSE:KAI) declared a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Shareholders of record on Thursday, January 11th will be paid a dividend of 0.21 per share by the industrial products company on Thursday, February 8th. This represents a $0.84 annualized dividend and a yield of 0.83%. The ex-dividend date is Wednesday, January 10th.
Kadant has increased its dividend payment by an average of 25.4% per year over the last three years and has increased its dividend every year for the last 3 years. Kadant has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kadant to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 17.3%.
Kadant (NYSE:KAI) opened at $101.80 on Friday. The firm has a market cap of $1,099.63, a price-to-earnings ratio of 24.85 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84. Kadant has a fifty-two week low of $56.15 and a fifty-two week high of $114.00.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The business had revenue of $152.79 million during the quarter, compared to analyst estimates of $141.33 million. During the same period in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was up 44.8% on a year-over-year basis. sell-side analysts predict that Kadant will post 4.39 earnings per share for the current year.
In related news, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $89.60, for a total value of $112,000.00. Following the sale, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan W. Painter sold 20,000 shares of Kadant stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $103.82, for a total transaction of $2,076,400.00. Following the completion of the sale, the chief executive officer now owns 76,082 shares in the company, valued at $7,898,833.24. The disclosure for this sale can be found here. Insiders sold a total of 27,687 shares of company stock valued at $2,887,844 over the last ninety days. Company insiders own 5.59% of the company’s stock.
KAI has been the subject of several research reports. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.67.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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