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Kaydon (KDN)
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Get An Even Better Deal On KDN Than Director Alexander Did
Forbes  May 21  Comment 
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 14, Kaydon Corp.'s Director, Mark A. Alexander, invested $232,177.00 into 10,000 shares of KDN, for...
Thursday 5/17 Insider Buying Report: KDN, WAC
Forbes  May 17  Comment 
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
Top Buys by Directors: Alexander's $232.2K Bet on KDN
Forbes  May 16  Comment 
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash...
Kaydon Corp. (KDN) Declares $0.20 Quarterly Dividend; 3.3% Yield
StreetInsider.com  May 9  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Kaydon+Corp.+%28KDN%29+Declares+%240.20+Quarterly+Dividend%3B+3.3%25+Yield/7418294.html for the full story.
Kaydon Corp. (KDN) Tops Q1 EPS by 1c
StreetInsider.com  May 9  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Kaydon+Corp.+%28KDN%29+Tops+Q1+EPS+by+1c/7418270.html for the full story.
Kaydon Corporation Reports First Quarter 2012 Results
Business Wire  May 9  Comment 
Kaydon Corporation (NYSE:KDN) today announced its results for the first fiscal quarter ended March 31, 2012. Consolidated Results Sales in the first fiscal quarter of 2012 were $116.5 million, compared to sales of $108.3 million in the first quarter
Kaydon Corporation Announces Second Quarter Dividend
Business Wire  May 9  Comment 
Kaydon Bearings Marks 25 Years in Mexico
Business Wire  May 1  Comment 
The Kaydon Bearings Division operations in Monterrey, Mexico have come a long way since 1987, growing from 12 employees to nearly 500 and producing some 490,000 slewing ring bearings for customers around the world. The operations celebrated their
Kaydon Corporation Announces First Quarter 2012 Earnings Conference Call
Business Wire  Apr 13  Comment 
Kaydon Corporation (NYSE: KDN) will hold its conference call for first quarter 2012 earnings on Wednesday, May 9, 2012. The conference call will begin at 11:00 a.m. Eastern time and will follow the Company’s release of first quarter 2012 earnings
Kaydon Corporation Enters Into New Credit Facility and Completes Special Dividend
Benzinga  Mar 26  Comment 
Kaydon Corporation (NYSE: KDN) today announced that it has entered into a new $400 million credit agreement for a senior credit facility with JP Morgan Chase Bank, N.A. as Administrative Agent, and a syndicate of lenders. The Credit Agreement...
Peter DeChants, SVP and CFO, to Retire in 2013, Timothy Heasley Elected as Senior Vice President and Chief Financial Officer
Business Wire  Mar 5  Comment 
Kaydon Corporation today announced that Peter C. DeChants, Kaydon’s Senior Vice President and Chief Financial Officer since 2009, has expressed his intent to retire in 2013. Timothy J. Heasley has been elected to succeed him as Senior Vice




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Kaydon (NYSE:KDN) primarily sells friction control bearings and filtration products, and is the leading manufacturer of wind turbine bearings. It competes against the big three U.S. machine tools & accessories companies, Timken Company (TKR), Stanley Works (SWK) , and Kennametal (KMT), as well as global leaders in the bearing market such as Swedish company AB SKF (HAN:SKFB), Japanese companies NSK LTD (TYO:6471), JTEKT Corporation, and Minebea (Miniature Ball Bearings), and German company Schaeffler Group. KDN's sales total is 18% as large as KMT's sales total.[1] At the lower end market, Kaydon also faces increasing competition from low-cost manufacturers from China.

To make up for lagging behind TKR, SWK, and KMT, Kaydon has invested in a booming niche market -- wind energy. Installed wind energy turbines in the United States grew 45% in 2007[2] KDN has established itself as the market leader in wind turbine bearings and runs a facility in Germany -- the world's largest wind energy market. By investing in wind energy, KDN hopes to reduce its dependence on the struggling automotive industry (19% of sales). This strategy gave KDN higher 2007 revenue growth than SWK, TKR, and KMT.[3]

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Competition

Machine Tools & Accessories

  • Kaydon (KDN)- Leading manufacturer in specialty bearings, especially wind turbine bearings.
  • Timken Company (TKR)- World's largest manufacturer of tapered roller bearings and steel alloy.[4]
  • Kennametal (KMT) - Leading global producer of tools, machine accessories, and advanced materials and second largest metal cutting tools manufacturer in the world.[5]
  • Stanley Works (SWK)- World-renowned brand of consumer and industrial tools.[6]
  • CompX International (CIX)- Manufactures security products and precision ball bearing slides.[7]
  • Hardinge (HDNG)- Manufactures machine tools in Western Europe.
  • Thermadyne Holding (THMD)- Producer of gas and electric arc cutting and welding products for the Americas.
  • RBC Bearings (ROLL)- Bearing manufacturer makes 90% of sales in U.S., has second-highest return on equity in the past year.[8]
  • Flow International (FLOW)- Producer of high-pressure waterjet cutting tools had highest revenue growth of machine tools companies in the past quarter.[9]
Competition Kaydon (KDN)[10] Timken Company (TKR)[11] Thermadyne Holding (THMD)[12] CompX International (CIX)[13] Hardinge (HDNG)[14] RBC Bearings (ROLL)[15] NN (NNBR) [16] Kennametal (KMT)[17] Stanley Works (SWK)[18]


Market Cap $Mil 1,690.00 3,520.00 228.32 80.17 161.20 818.90 206.27 2,830.00 3,800.00


Revenue $Mil 451.38 5,236.02 493.98 177.68 356.32 306.06 421.29 2,385.49 4,483.80


Gross Profit $Mil 184.30 1,053.83 154.35 45.23 107.41 100.11 84.27 841.56 1,692.20


Net Profit Margin % 17.22% 4.19% 2.14% 5.05% 4.19% 9.30% -0.28% 7.50% 7.51%


Operating Margin % 24.65% 6.22% 8.97% 8.75% 6.42% 16.96% 2.65% 11.29% 10.06%


References

  1. ↑ Yahoo! Finance: Machine Tools and Accessories Leaders and Laggards
  2. ↑ New York Times, "Move Over, Oil, There’s Money in Texas Wind," 02/23/08
  3. ↑ Yahoo! Finance: Machine Tools and Accessories Leaders and Laggards
  4. ↑ Timken Company website, "Corporate Overview"]
  5. ↑ KMT 2007 10-k, Item 6- Selected Financial Data, page 11
  6. ↑ Stanley Works website, "Businesses"
  7. ↑ Yahoo! Finance: CIX
  8. ↑ Yahoo! Finance: Machine Tools and Accessories Leaders and Laggards
  9. ↑ Yahoo! Finance: Machine Tools and Accessories Leaders and Laggards
  10. ↑ KDN 2007 10-k, Item 6: Selected Financial Data, page 9
  11. ↑ TKR 2007 10-k, Item 6: Selected Financial Data, page 18
  12. ↑ THMD 2007 10-k, Item 6: Selected Financial Data, page 18
  13. ↑ CIX 2007 10-k, Item 6: Selected Financial Data, page 15
  14. ↑ HDNG 2007 10-k, Item 6: Selected Financial Data, page 21
  15. ↑ ROLL 2007 10-k, Item 6: Selected Financial Data, page 18
  16. ↑ NNBR 2007 10-k, Item 6: Selected Financial Data, page 17
  17. ↑ KMT 2007 10-k, Item 6- Selected Financial Data, page 11
  18. ↑ SWK 2007 10-k, Item 6: Selected Financial Data, page 14
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