Kadant Inc. (NYSE:KAI) Declares $0.32 Quarterly Dividend

Kadant Inc. (NYSE:KAI) declared a quarterly dividend on Thursday, September 5th, Zacks reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.32 per share by the industrial products company on Thursday, November 7th. This represents a $1.28 annualized dividend and a yield of 0.43%. The ex-dividend date is Thursday, October 10th.

Kadant has raised its dividend payment by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 11 years. Kadant has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kadant to earn $10.69 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 12.0%.

Kadant Trading Down 0.6 %

Shares of KAI stock traded down $1.87 on Friday, reaching $301.11. 68,324 shares of the stock were exchanged, compared to its average volume of 52,467. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.54 billion, a P/E ratio of 31.37 and a beta of 1.21. The firm has a 50 day moving average of $316.56 and a two-hundred day moving average of $303.70. Kadant has a 1-year low of $214.21 and a 1-year high of $363.40.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 earnings per share. On average, research analysts anticipate that Kadant will post 9.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KAI. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Wednesday, June 26th. DA Davidson lifted their target price on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

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.