Kadant Inc. (NYSE:KAI) Announces Quarterly Dividend of $0.26

Kadant Inc. (NYSE:KAI – Get Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Thursday, July 14th will be given a dividend of 0.26 per share by the industrial products company on Thursday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, July 13th.

Kadant has raised its dividend by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Kadant has a payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Kadant to earn $9.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 10.7%.

Kadant stock opened at $184.04 on Friday. Kadant has a 52 week low of $164.81 and a 52 week high of $240.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.14 and a current ratio of 1.80. The stock has a market capitalization of $2.15 billion, a P/E ratio of 19.77, a PEG ratio of 2.51 and a beta of 1.24. The stock has a 50-day simple moving average of $191.72 and a 200 day simple moving average of $208.15.

Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. Kadant had a return on equity of 17.88% and a net margin of 12.93%. The company had revenue of $226.48 million during the quarter, compared to analysts’ expectations of $215.17 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business’s revenue was up 31.3% on a year-over-year basis. Research analysts forecast that Kadant will post 8.9 earnings per share for the current year.

In other Kadant news, SVP Stacy D. Krause sold 1,415 shares of the company’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $200.00, for a total transaction of $283,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Dara F. Mitchell sold 1,480 shares of the company’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $200.00, for a total transaction of $296,000.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Kadant during the 1st quarter worth about $47,000. NewEdge Advisors LLC bought a new position in shares of Kadant during the 4th quarter worth about $208,000. Engineers Gate Manager LP bought a new position in shares of Kadant during the 1st quarter worth about $287,000. Raymond James Trust N.A. boosted its position in shares of Kadant by 11.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,719 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 175 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Kadant during the 1st quarter worth about $335,000. 93.93% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on KAI shares. Zacks Investment Research cut Kadant from a “hold” rating to a “sell” rating in a report on Tuesday, February 22nd. Barrington Research boosted their price objective on shares of Kadant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. StockNews.com initiated coverage on shares of Kadant in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Kadant in a research report on Wednesday, May 4th.

About Kadant (Get Rating)

Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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