Kadant Inc. (NYSE:KAI) to Issue Quarterly Dividend of $0.32

Kadant Inc. (NYSE:KAI) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Thursday, October 10th will be given 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 dividend 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 raised its dividend annually for the last 11 consecutive years. Kadant has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE KAI opened at $301.11 on Friday. The company’s 50-day moving average is $316.56 and its 200 day moving average is $303.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The stock has a market capitalization of $3.54 billion, a P/E ratio of 31.37 and a beta of 1.21. Kadant has a 1 year low of $214.21 and a 1 year high of $363.40.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.38. The company had revenue of $275.00 million for 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 previous year, the company posted $2.54 earnings per share. On average, sell-side analysts expect that Kadant will post 9.93 earnings per share for the current year.

Wall Street Analyst Weigh In

KAI has been the subject of a number of recent research reports. Barrington Research reissued 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.

About Kadant

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.