I love somewhat obscure and under-followed industrial companies,
particularly when they are leaders in their markets and have quality
investors like Royce & Associates on board. That said, I find it
hard to find a lot of value in Kaydon (KDN)
shares today. Although the company has considerable market share and
pretty solid margins, the bottom-line return on capital and free cash
flow generation just aren't quite where they need to be relative to
valuation to make this a must-own right now.
Please click this link to continue:
Kaydon's Strong Niche Focus Doesn't Produce Quite Enough Value
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