Kadant (NYSE:KAI) Announces Quarterly Earnings Results, Beats Estimates By $0.41 EPS

Kadant (NYSE:KAI - Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41, Briefing.com reports. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. During the same quarter in the prior year, the firm earned $2.69 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis.

Kadant Price Performance

Shares of NYSE:KAI traded up $13.85 during midday trading on Wednesday, reaching $334.40. 63,295 shares of the company's stock were exchanged, compared to its average volume of 80,703. Kadant has a 12 month low of $217.85 and a 12 month high of $363.40. The firm has a market capitalization of $3.93 billion, a PE ratio of 34.35 and a beta of 1.21. The company's 50 day simple moving average is $322.41 and its two-hundred day simple moving average is $305.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, October 10th. Kadant's payout ratio is 13.17%.

Wall Street Analysts Forecast Growth

KAI has been the topic of several analyst reports. Barrington Research restated an "outperform" rating and set a $360.00 price target on shares of Kadant in a research note on Wednesday. DA Davidson raised their target price 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.

Insider Activity at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now directly owns 4,250 shares of the company's stock, valued at $1,433,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

About Kadant

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.