Kadant (KAI) Upgraded to Buy: What Does It Mean for the Stock?
Kadant (KAI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Kadant: Favorable Outlook But Share Price Lacks Margin Of Safety (Rating Downgrade)
Kadant's 3Q24 revenue grew 11% to $272 million, driven by acquisitions and strong aftermarket demand. North America remains a key growth driver, bolstered by robust demand. On the other hand, European and Asian markets face economic headwinds impacting project activity. Strength in aftermarket demand supports stable margins and long-term growth potential across all segments.
Kadant, Inc. (KAI) Q3 2024 Earnings Call Transcript
Kadant, Inc. (NYSE:KAI ) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Michael McKenney - Executive VP & CFO Jeffrey Powell - President, CEO & Director Conference Call Participants Gary Prestopino - Barrington Kurt Yinger - D.A. Davidson Ross Sparenblek - William Blair Operator Good day, and thank you for standing by.
Kadant (KAI) Reports Q3 Earnings: What Key Metrics Have to Say
Although the revenue and EPS for Kadant (KAI) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Kadant (KAI) Q3 Earnings and Revenues Top Estimates
Kadant (KAI) came out with quarterly earnings of $2.84 per share, beating the Zacks Consensus Estimate of $2.43 per share. This compares to earnings of $2.69 per share a year ago.
Kadant (KAI) Q2 Earnings and Revenues Surpass Estimates
Kadant (KAI) came out with quarterly earnings of $2.81 per share, beating the Zacks Consensus Estimate of $2.43 per share. This compares to earnings of $2.54 per share a year ago.
Amalgamated Bank Decreases Stock Position in Kadant Inc. (NYSE:KAI)
Amalgamated Bank lessened its position in shares of Kadant Inc. (NYSE:KAI – Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,690 shares of the industrial products company’s stock after selling 66 shares during the period. Amalgamated Bank’s holdings in Kadant were worth $474,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds also recently made changes to their positions in KAI. Headinvest LLC purchased a new stake in Kadant during the third quarter valued at about $25,000. First Horizon Advisors Inc. lifted its stake in shares of Kadant by 37.0% during the 4th quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock valued at $52,000 after buying an additional 50 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Kadant in the 4th quarter worth approximately $54,000. SG Americas Securities LLC purchased a new position in Kadant in the 4th quarter valued at approximately $165,000. Finally, Strs Ohio raised its holdings in Kadant by 200.0% during the 4th quarter. Strs Ohio now owns 600 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 400 shares during the period. Institutional investors own 96.13% of the company’s stock. Kadant Price Performance Kadant stock opened at $279.02 on Monday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 29.06 and a beta of 1.30. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $298.69 and a 200 day simple moving average of $287.55. Kadant Inc. has a 52 week low of $186.99 and a 52 week high of $354.02. Kadant (NYSE:KAI – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.96 by $0.42. The company had revenue of $248.98 million during the quarter, compared to analyst estimates of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. Kadant’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 earnings per share. On average, research analysts forecast that Kadant Inc. will post 10.01 earnings per share for the current fiscal year. Kadant Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s dividend payout ratio (DPR) is currently 13.33%. Wall Street Analyst Weigh In KAI has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th. Barrington Research reaffirmed an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Monday, April 29th. Check Out Our Latest Research Report on Kadant Insider Activity In related news, Director Jonathan W. Painter sold 7,000 shares of the company’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 in the company, valued at $2,514,853.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 7,615 shares in the company, valued at approximately $2,514,853.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas C. Leonard sold 217 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total transaction of $70,266.77. Following the transaction, the director now owns 11,080 shares in the company, valued at $3,587,814.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,798 shares of company stock worth $2,899,004. 1.40% of the stock is currently owned by corporate insiders. About Kadant (Free Report) 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. See Also Five stocks we like better than Kadant Using the MarketBeat Stock Split Calculator MarketBeat Week in Review – 5/13 – 5/17 High Flyers: 3 Natural Gas Stocks for March 2022 Take-Two Interactive Software Offers 2nd Chance for Investors The How And Why of Investing in Oil Stocks Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
Kadant (KAI) Authorizes $50M Worth of Share Buyback Program
Kadant (KAI) rewards shareholders with a share buyback program worth $50 million.
