Kadant Inc. (KAI) Expected to Announce Quarterly Sales of $144.50 Million

Brokerages expect Kadant Inc. (NYSE:KAI) to report $144.50 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Kadant’s earnings. The highest sales estimate is $146.00 million and the lowest is $143.00 million. Kadant posted sales of $100.24 million in the same quarter last year, which suggests a positive year over year growth rate of 44.2%. The firm is expected to announce its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Kadant will report full year sales of $144.50 million for the current year, with estimates ranging from $509.00 million to $511.90 million. For the next financial year, analysts anticipate that the firm will report sales of $590.35 million per share, with estimates ranging from $583.00 million to $597.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Kadant.

KAI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Kadant currently has an average rating of “Hold” and a consensus target price of $104.67.

Shares of Kadant (NYSE KAI) opened at $93.15 on Friday. Kadant has a fifty-two week low of $56.15 and a fifty-two week high of $114.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.35 and a quick ratio of 1.65. The company has a market capitalization of $1,035.24, a price-to-earnings ratio of 23.40 and a beta of 1.34.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is presently 24.85%.

In other news, insider Eric T. Langevin sold 8,932 shares of Kadant stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $99.69, for a total transaction of $890,431.08. Following the completion of the transaction, the insider now owns 34,382 shares of the company’s stock, valued at approximately $3,427,541.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sandra L. Lambert sold 4,000 shares of Kadant stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.01, for a total value of $400,040.00. Following the transaction, the vice president now directly owns 19,257 shares of the company’s stock, valued at approximately $1,925,892.57. The disclosure for this sale can be found here. Insiders have sold a total of 26,819 shares of company stock valued at $2,674,705 in the last ninety days. Corporate insiders own 5.59% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KAI. Schwab Charles Investment Management Inc. increased its position in Kadant by 16.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 61,736 shares of the industrial products company’s stock worth $4,643,000 after purchasing an additional 8,567 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Kadant during the 2nd quarter worth about $475,000. Alliancebernstein L.P. increased its position in Kadant by 10.7% during the 2nd quarter. Alliancebernstein L.P. now owns 13,400 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 1,300 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Kadant by 53.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 89,074 shares of the industrial products company’s stock worth $6,698,000 after purchasing an additional 30,854 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Kadant by 27.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 93,176 shares of the industrial products company’s stock worth $7,008,000 after purchasing an additional 19,918 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

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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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