Is Buying Stock Like Kadant Inc. (KAI) After This Bullish Double Top Pattern a Winning Strategy?

September 16, 2018 - By Benjamin Allen

Kadant Inc. (NYSE:KAI) Logo

Investors sentiment increased to 1.02 in Q2 2018. Its up 0.31, from 0.71 in 2018Q1. It is positive, as 15 investors sold Kadant Inc. shares while 50 reduced holdings. 24 funds opened positions while 42 raised stakes. 9.92 million shares or 10.17% more from 9.01 million shares in 2018Q1 were reported.
Manufacturers Life Insurance Co The has invested 0% in Kadant Inc. (NYSE:KAI). Peak6 Invests Ltd Partnership owns 2,153 shares. Cortina Asset Ltd Llc owns 156,403 shares for 0.71% of their portfolio. 33,108 are held by Ny State Common Retirement Fund. Johnson Fincl Group invested in 0% or 15 shares. Covington Capital Mngmt has 125 shares. Smith Asset Lp holds 0.05% of its portfolio in Kadant Inc. (NYSE:KAI) for 16,700 shares. Utd Serv Automobile Association holds 0.05% or 733,601 shares. 102,663 are held by State Bank Of Ny Mellon. Sei Investments accumulated 191 shares. Virginia Retirement Et Al has invested 0.01% in Kadant Inc. (NYSE:KAI). Stifel Fincl Corporation reported 6,164 shares stake. First Manhattan Co has invested 0% in Kadant Inc. (NYSE:KAI). Barclays Public Ltd Co has 0% invested in Kadant Inc. (NYSE:KAI) for 1,685 shares. Dupont Cap holds 0.02% or 9,909 shares.

Since May 2, 2018, it had 0 insider purchases, and 2 sales for $703,782 activity. Tully William P had sold 2,000 shares worth $188,782.

The chart of Kadant Inc. (KAI) shows a double top with $109.88 target or 5.00 % above today’s $104.65 share price. The 5 months chart pattern indicates low risk for the $1.16B company. It was reported on Sep, 16 by Finviz.com. If the $109.88 price target is reached, the company will be worth $58.05 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.82% or $0.85 during the last trading session, reaching $104.65. About 43,057 shares traded. Kadant Inc. (NYSE:KAI) has risen 13.99% since September 16, 2017 and is uptrending. It has underperformed by 1.63% the S&P500.

Analysts await Kadant Inc. (NYSE:KAI) to report earnings on October, 29. They expect $1.39 earnings per share, down 6.71 % or $0.10 from last year’s $1.49 per share. KAI’s profit will be $15.42M for 18.82 P/E if the $1.39 EPS becomes a reality. After $1.07 actual earnings per share reported by Kadant Inc. for the previous quarter, Wall Street now forecasts 29.91 % EPS growth.

Another recent and important Kadant Inc. (NYSE:KAI) news was published by Globenewswire.com which published an article titled: “Kadant Declares Cash Dividend” on September 11, 2018.

Kadant Inc. supplies equipment and components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company has market cap of $1.16 billion. The firm operates in two divisions, Papermaking Systems and Wood Processing Systems. It has a 31.99 P/E ratio. The Papermaking Systems segment develops, makes, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, and related equipment used in the processing of recyclable and waste materials; and fluid-handling systems used primarily in the dryer section of the papermaking process and during the production of corrugated boxboard, metals, plastics, rubber, textiles, chemicals, and food.

Kadant Inc. (NYSE:KAI) Institutional Positions Chart

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