FY2017 EPS Estimates for Kadant Inc Lifted by William Blair (KAI)
Kadant Inc (NYSE:KAI) – Equities research analysts at William Blair lifted their FY2017 EPS estimates for shares of Kadant in a report issued on Wednesday. William Blair analyst N. Heymann now expects that the industrial products company will post earnings per share of $4.40 for the year, up from their prior forecast of $4.05. William Blair also issued estimates for Kadant’s Q4 2017 earnings at $1.07 EPS and FY2018 earnings at $4.80 EPS.
Kadant (NYSE:KAI) last posted its earnings results on Monday, October 30th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.35. The firm had revenue of $152.79 million during the quarter, compared to analysts’ expectations of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 15.26%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share.
KAI has been the subject of several other research reports. ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a report on Saturday, August 5th. Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a report on Tuesday, October 3rd. Finally, BidaskClub lowered Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $95.33.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 0.74%. Kadant’s payout ratio is 24.85%.
In related news, Director William P. Tully sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.60, for a total value of $112,000.00. Following the completion of the sale, the director now owns 5,250 shares in the company, valued at approximately $470,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.59% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KAI. American International Group Inc. lifted its position in Kadant by 7.1% in the first quarter. American International Group Inc. now owns 6,601 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 435 shares during the last quarter. Teachers Advisors LLC lifted its position in Kadant by 40.8% in the first quarter. Teachers Advisors LLC now owns 24,684 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 7,157 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in Kadant by 14.7% in the first quarter. TIAA CREF Investment Management LLC now owns 58,220 shares of the industrial products company’s stock valued at $3,455,000 after purchasing an additional 7,479 shares during the last quarter. Vanguard Group Inc. lifted its position in Kadant by 4.5% in the first quarter. Vanguard Group Inc. now owns 455,242 shares of the industrial products company’s stock valued at $27,019,000 after purchasing an additional 19,603 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Kadant by 5.1% in the first quarter. Geode Capital Management LLC now owns 120,698 shares of the industrial products company’s stock valued at $7,163,000 after purchasing an additional 5,826 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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