Kadant Inc. (KAI) Management Exudes Business Confidence with Aggressive Share Repurchase Plan
The management, after spending $15 million to buy back shares, has decided to spend another $30 million for the same purpose. Institutions already hold almost all of the nearly 14 million shares. The move signals unqualified confidence in the future of the business. It should make all investors anxious for reliable stocks in today’s uncertain market conditions look at this corporation from Westford, MA. The stock is a part of the Miscellaneous Capital Good Industry, but its core strength lies in paper recycling. This is already an established need in environmentally aware markets, and trends in paper prices imply that…