Q2 2024 EPS Estimates for Kadant Inc. (NYSE:KAI) Decreased by Analyst

Kadant Inc. (NYSE:KAI - Free Report) - Analysts at William Blair dropped their Q2 2024 earnings estimates for Kadant in a research report issued on Wednesday, May 1st. William Blair analyst R. Sparenblek now anticipates that the industrial products company will post earnings per share of $2.47 for the quarter, down from their previous estimate of $2.70. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Kadant's current full-year earnings is $9.96 per share. William Blair also issued estimates for Kadant's Q3 2024 earnings at $2.66 EPS, Q4 2024 earnings at $2.54 EPS and FY2024 earnings at $10.05 EPS.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.42. The firm had revenue of $248.98 million for the quarter, compared to the consensus estimate of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.88%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $2.40 earnings per share.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Kadant from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th. Barrington Research restated an "outperform" rating and set a $360.00 price objective on shares of Kadant in a research report on Monday.

Kadant Trading Up 2.2 %

Kadant stock traded up $5.83 during midday trading on Friday, hitting $272.69. 100,194 shares of the stock were exchanged, compared to its average volume of 96,800. Kadant has a fifty-two week low of $186.95 and a fifty-two week high of $354.02. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 28.41 and a beta of 1.30. The stock's 50-day simple moving average is $308.73 and its 200 day simple moving average is $282.19. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KAI. Bank of New York Mellon Corp lifted its stake in Kadant by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 66,615 shares of the industrial products company's stock worth $15,025,000 after acquiring an additional 852 shares during the last quarter. Brown Advisory Inc. lifted its stake in Kadant by 17.5% in the third quarter. Brown Advisory Inc. now owns 154,252 shares of the industrial products company's stock worth $34,792,000 after acquiring an additional 22,978 shares during the last quarter. Inspire Advisors LLC purchased a new position in Kadant in the third quarter worth approximately $695,000. Principal Financial Group Inc. lifted its position in shares of Kadant by 24.4% during the 3rd quarter. Principal Financial Group Inc. now owns 3,713 shares of the industrial products company's stock worth $837,000 after buying an additional 728 shares during the last quarter. Finally, West Coast Financial LLC lifted its position in shares of Kadant by 0.3% during the 3rd quarter. West Coast Financial LLC now owns 30,657 shares of the industrial products company's stock worth $6,915,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insider Buying and Selling at Kadant

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the sale, the director now directly owns 7,615 shares in the company, valued at $2,514,853.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacy D. Krause sold 881 shares of Kadant stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $327.00, for a total transaction of $288,087.00. The disclosure for this sale can be found here. Insiders sold a total of 8,798 shares of company stock worth $2,899,004 over the last three months. Insiders own 1.40% of the company's stock.

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This is a boost from Kadant's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.47%. Kadant's dividend payout ratio (DPR) is currently 13.33%.

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.