Kadant (KAI) Declares $0.29 Dividend
Kadant said on March 8, 2023 that its board of directors declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Previously, the company paid $0.26 per share.
Shares must be purchased before the ex-div date of April 11, 2023 to qualify for the dividend. Shareholders of record as of April 12, 2023 will receive the payment on May 10, 2023.
At the current share price of $215.28 / share, the stock's dividend yield is 0.54%. Looking back five years and taking a sample every week, the average dividend yield has been 0.78%, the lowest has been 0.42%, and the highest has been 1.56%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 1.03 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 0.13% Upside
As of March 10, 2023, the average one-year price target for Kadant is $215.56. The forecasts range from a low of $202.00 to a high of $240.45. The average price target represents an increase of 0.13% from its latest reported closing price of $215.28.
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The projected annual revenue for Kadant is $908MM, an increase of 0.34%. The projected annual non-GAAP EPS is $9.18.
What is the Fund Sentiment?
There are 426 funds or institutions reporting positions in Kadant. This is an increase of 10 owner(s) or 2.40% in the last quarter. Average portfolio weight of all funds dedicated to KAI is 0.21%, a decrease of 3.20%. Total shares owned by institutions decreased in the last three months by 0.93% to 14,248K shares. The put/call ratio of KAI is 0.32, indicating a bullish outlook.
What are Large Shareholders Doing?
Wasatch Advisors holds 1,536K shares representing 13.16% ownership of the company. In it's prior filing, the firm reported owning 1,511K shares, representing an increase of 1.66%. The firm increased its portfolio allocation in KAI by 4.89% over the last quarter.
Neuberger Berman Group holds 850K shares representing 7.28% ownership of the company. In it's prior filing, the firm reported owning 859K shares, representing a decrease of 1.07%. The firm decreased its portfolio allocation in KAI by 99.95% over the last quarter.
Capital International Investors holds 591K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 575K shares, representing an increase of 2.76%. The firm increased its portfolio allocation in KAI by 0.78% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 591K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 575K shares, representing an increase of 2.76%. The firm increased its portfolio allocation in KAI by 2.35% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 568K shares representing 4.86% ownership of the company. In it's prior filing, the firm reported owning 538K shares, representing an increase of 5.23%. The firm increased its portfolio allocation in KAI by 9.67% over the last quarter.
Kadant Background Information
(This description is provided by the company.)
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. Its products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,600 employees in 20 countries worldwide.
This story originally appeared on Fintel.