Fintel reports that on July 7, 2023, William Blair reiterated coverage of Kadant (NYSE:KAI) with a Outperform recommendation.
Analyst Price Forecast Suggests 5.32% Upside
As of July 6, 2023, the average one-year price target for Kadant is 221.34. The forecasts range from a low of 205.03 to a high of $255.15. The average price target represents an increase of 5.32% from its latest reported closing price of 210.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kadant is 908MM, a decrease of 0.03%. The projected annual non-GAAP EPS is 9.18.
Kadant Declares $0.29 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Shareholders of record as of July 13, 2023 will receive the payment on August 10, 2023. Previously, the company paid $0.29 per share.
At the current share price of $210.15 / share, the stock's dividend yield is 0.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.76%, 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 0.87 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. 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 0.21%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 444 funds or institutions reporting positions in Kadant. This is an increase of 15 owner(s) or 3.50% in the last quarter. Average portfolio weight of all funds dedicated to KAI is 0.21%, an increase of 4.36%. Total shares owned by institutions decreased in the last three months by 1.55% to 14,101K shares. 
The put/call ratio of KAI is 0.67, indicating a bullish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 1,452K shares representing 12.41% ownership of the company. In it's prior filing, the firm reported owning 1,536K shares, representing a decrease of 5.83%. The firm increased its portfolio allocation in KAI by 2.60% over the last quarter.
Neuberger Berman Group holds 866K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 850K shares, representing an increase of 1.79%. The firm increased its portfolio allocation in KAI by 13.07% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 579K shares representing 4.95% ownership of the company. In it's prior filing, the firm reported owning 568K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in KAI by 14.35% over the last quarter.
Chevy Chase Trust Holdings holds 568K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 501K shares, representing an increase of 11.74%. The firm decreased its portfolio allocation in KAI by 13.92% over the last quarter.
Capital International Investors holds 506K shares representing 4.33% ownership of the company. In it's prior filing, the firm reported owning 591K shares, representing a decrease of 16.81%. The firm decreased its portfolio allocation in KAI by 3.68% 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.
Additional reading:
- Kadant Reports First Quarter 2023 Results Reports Record Bookings and Raises Earnings Guidance
- First Quarter 2023 Business Review May 3, 2023 Exhibit 99.2 Forward-Looking Statements The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statemen
- Sixth Amendment, dated as of November 30, 2022, to the Amended and Restated Credit Agreement, dated as of March 1, 2017, by and among the Registrant, the Foreign Subsidiary Borrowers from time to time parties thereto, the several banks and other financial institutions or entities from time to time parties thereto, and Citizens Bank, N.A., as Administrative Agent and Multicurrency Administrative Agent.
- Subsidiaries of the Registrant.
- Kadant Reports Fourth Quarter and Fiscal Year 2022 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
