Kadant Inc. (NYSE:KAI) Declares Quarterly Dividend of $0.34

Kadant Inc. (NYSE:KAI - Get Free Report) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Wednesday, April 9th will be paid a dividend of 0.34 per share by the industrial products company on Wednesday, May 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Wednesday, April 9th. This is a 6.3% increase from Kadant's previous quarterly dividend of $0.32.

Kadant has raised its dividend by an average of 8.6% annually over the last three years and has increased its dividend every year for the last 11 years. Kadant has a dividend payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kadant to earn $11.39 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.9%.

Kadant Stock Performance

Kadant stock traded up $1.81 during mid-day trading on Friday, hitting $376.13. 153,198 shares of the company's stock traded hands, compared to its average volume of 177,002. 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 has a one year low of $249.51 and a one year high of $429.95. The firm has a 50 day moving average price of $367.75 and a 200 day moving average price of $356.77. The company has a market cap of $4.42 billion, a PE ratio of 39.68 and a beta of 1.25.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. On average, equities analysts forecast that Kadant will post 9.97 EPS for the current year.

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Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and set a $410.00 price objective on shares of Kadant in a research note on Friday, February 14th.

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.