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The Company is a supplier of equipment used in the global papermaking and paper recycling industries and also a manufacturer of granules made from papermaking byproducts.
Companies in bizarre business areas with low debt will come out of the current financial mess smelling like fertilized roses. Kadant seems to be a strong candidate. Historical prices and earnings suggest that this company is a cyclical, booming and busting as recycling goes in and out of fashion. How anyone could have paid a PE of 60 for this company is beyond me, but hey, them was the days, right? Todays numbers seem much more in line with what I would expect. Heck, we might even get lucky and see brighter days ahead for recycling profits. If so, this could be a market thrasher, not just a decent stock in a tough time. I like their low debt, their steady earnings, and their share buybacks. Heck, the more I look at the numbers here, the more I like these guys for my real world port.
I agree. However, the things that make me hesitate is that a) this company still isn't making money, even though its losing less than it was a couple quarters ago. b) this company is below industry average in management efficiency and c) their net worth is going down. I dont like companies that are worth less than they were before. That said, i still kind of like them, and they're still a little below book value. I do give them the green thumb overall, although i probably would give them neither except that i want to follow them so i can learn. Sort of an experiment.
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