Kadant (NYSE:KAI) Updates Q2 Earnings Guidance

Kadant (NYSE:KAI) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.40-$2.50 for the period, compared to the consensus EPS estimate of $2.56. The company issued revenue guidance of $258-$266 million, compared to the consensus revenue estimate of $266.46 million. Kadant also updated its FY24 guidance to $9.75-$10.05 EPS.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barrington Research reiterated an outperform rating and set a $360.00 price target on shares of Kadant in a research report on Monday. StockNews.com lowered shares of Kadant from a buy rating to a hold rating in a research report on Thursday, January 4th.

Kadant Trading Down 4.7 %

Shares of KAI traded down $13.37 during trading hours on Tuesday, hitting $273.79. 125,005 shares of the stock traded hands, compared to its average volume of 92,549. The business has a fifty day moving average of $311.80 and a 200-day moving average of $282.12. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.21 billion, a PE ratio of 29.00 and a beta of 1.28. Kadant has a 1-year low of $183.67 and a 1-year high of $354.02.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.31. Kadant had a return on equity of 16.20% and a net margin of 12.12%. The company had revenue of $238.68 million during the quarter, compared to analyst estimates of $227.54 million. Analysts expect that Kadant will post 9.96 EPS for the current year.

Kadant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.47%. Kadant’s payout ratio is currently 12.93%.

Insiders Place Their Bets

In other news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was 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 approximately $2,514,853.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction 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 directly owns 7,615 shares of the company’s stock, valued at $2,514,853.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacy D. Krause sold 700 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $327.00, for a total transaction of $228,900.00. Following the sale, the senior vice president now directly owns 881 shares in the company, valued at $288,087. The disclosure for this sale can be found here. Insiders sold 8,798 shares of company stock worth $2,899,004 over the last ninety days. 1.40% of the stock is currently owned by corporate 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.