QUOTE AND NEWS
Benzinga  Oct 16  Comment 
The SKF Group (OTC: SKFRY) today announced the successful completion of its all cash tender offer to acquire all outstanding shares of Kaydon Corporation (NYSE: KDN) for USD 35.50 in cash. SKF expects to complete the ...
Cloud Computing  Oct 4  Comment 
PALO ALTO, Calif. , Oct. 4, 2013 /PRNewswire/ -- Kaydon Corporation, a leading designer of custom engineering solutions, is successfully enhancing their SOX compliance and internal audit processes with the support of MetricStream. The...
Benzinga  Sep 6  Comment 
In a report published Friday, Goldman Sachs analyst Samuel H. Eisner upgraded the rating on Kaydon Corporation (NYSE: KDN) from Sell to Neutral, and raised the price target from $25.00 to $33.00. In the report, Goldman Sachs noted, “We are...
StreetInsider.com  Sep 5  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Upgrades/Goldman+Sachs+Upgrades+Kaydon+Corporation+%28KDN%29+to+Neutral/8663629.html for the full story.
Benzinga  Sep 5  Comment 
Midway through trading Thursday, the Dow traded up 0.06 percent to 14,939.02 while the NASDAQ surged 0.18 percent to 3,655.67. The S&P also rose, gaining 0.15 percent to 1,655.60. Top Headline Conn's (NASDAQ: CONN) reported a 65% rise in its ...
Benzinga  Sep 5  Comment 
Kaydon (NYSE: KDN) shares moved up 22.98% to $35.54. The volume of Kaydon shares traded was 6718% higher than normal. Kaydon agreed to be acquired by SKF for $35.50 per share in cash. Louisiana-Pacific (NYSE: LPX) shares rose 12.71% to $17.20....
StreetInsider.com  Sep 5  Comment 
* ATK (NYSE: ATK) announced it has entered into a definitive agreement to acquire Bushnell Group Holdings, Inc. Bushnell is a leading global designer, marketer and distributor of branded sports optics, outdoor accessories and performance eyewear....
Benzinga  Sep 5  Comment 
Local (NASDAQ: LOCM) moved up 29.27% to $2.12 after the company reported that it has signed an agreement with Microsoft (NASDAQ: MSFT) to provide location-based local product data for Bing. Prospect Global Resources (NASDAQ: PGRX) jumped 25.95%...
Benzinga  Sep 5  Comment 
Kaydon Corporation (NYSE: KDN) and AB SKF announced today that they signed a definitive agreement under which SKF will acquire Kaydon for $35.50 per share in an all-cash transaction that values Kaydon at approximately $1.25 billion, including...




 

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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