Kadant Company Profile (NYSE:KAI)

About Kadant

Kadant logoKadant Inc. is a supplier of equipment used in process industries. The process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems, and a separate product line, Fiber-based Products. Through its Papermaking Systems segment, it develops, manufactures and markets a range of equipment and products for the papermaking, paper recycling and other process industries. Through its Wood Processing Systems segment, it designs, manufactures and markets stranders and related equipment. Through its Fiber-based Products business, the Company produces biodegradable, absorbent granules from papermaking byproducts for use as carriers for agricultural, home lawn and garden, and professional lawn, turf and ornamental applications.

Industry, Sector and Symbol:
  • Sector: Industrial Products
  • Industry: Diversified Machinery
  • Sub-Industry: Industrial Machinery
  • Exchange: NYSE
  • Symbol: KAI
  • CUSIP: 48282T10
Key Metrics:
  • Previous Close: $61.70
  • 50 Day Moving Average: $61.66
  • 200 Day Moving Average: $57.36
  • 52-Week Range: $37.50 - $64.75
  • Trailing P/E Ratio: 19.92
  • Foreward P/E Ratio: 17.73
  • P/E Growth: 2.22
  • Market Cap: $681.03M
  • Outstanding Shares: 10,914,000
  • Beta: 1.3
  • Net Margins: 8.24%
  • Return on Equity: 13.36%
  • Return on Assets: 8.11%
  • Debt-to-Equity Ratio: 0.22%
  • Current Ratio: 2.25%
  • Quick Ratio: 1.61%
Additional Links:
Companies Related to Kadant:

Analyst Ratings

Consensus Ratings for Kadant (NYSE:KAI) (?)
Ratings Breakdown: 1 Hold Rating, 2 Buy Ratings
Consensus Rating:Buy (Score: 2.67)
Consensus Price Target: $60.67 (1.67% downside)

Analysts' Ratings History for Kadant (NYSE:KAI)
DateFirmActionRatingPrice TargetDetails
12/5/2016Barrington ResearchSet Price TargetBuy$75.00View Rating Details
9/16/2016William BlairInitiated CoverageMarket Perform$49.00View Rating Details
8/18/2016Seaport Global SecuritiesUpgradeNeutral -> Buy$58.00View Rating Details
11/6/2015MacquarieBoost Price TargetNeutral$46.00 -> $47.00View Rating Details
(Data available from 2/24/2015 forward)


Earnings History for Kadant (NYSE:KAI)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
2/23/2017Q416$0.63$0.69$102.96 million$100.24 millionViewN/AView Earnings Details
8/3/2016Q2$0.65$0.88$104.44 million$111.83 millionViewListenView Earnings Details
5/2/2016Q1$0.58$0.72$86.37 million$97.00 millionViewListenView Earnings Details
2/24/2016Q415$0.80$0.95$104.13 million$108.00 millionViewListenView Earnings Details
11/4/2015Q3$0.74$0.78$98.23 million$92.00 millionViewListenView Earnings Details
8/5/2015Q2$0.80$0.78$97.28 million$98.00 millionViewListenView Earnings Details
5/4/2015Q115$0.58$0.63$95.30 million$92.00 millionViewN/AView Earnings Details
2/26/2015Q4$0.74$0.81$105.38 million$105.00 millionViewListenView Earnings Details
10/27/2014Q3$0.54$0.63$96.50 million$99.00 millionViewListenView Earnings Details
7/28/2014Q2$0.71$0.70$104.35 million$105.00 millionViewListenView Earnings Details
4/29/2014Q1$0.47$0.47$95.93 million$93.40 millionViewListenView Earnings Details
2/19/2014Q4$0.49$0.51$88.00 million$95.00 millionViewListenView Earnings Details
11/5/2013Q313$0.51$0.57$89.45 million$91.32 millionViewListenView Earnings Details
7/29/2013Q2 2013$0.56$0.51$82.65 million$82.17 millionViewListenView Earnings Details
4/29/2013Q1 2013$0.37$0.47$76.00 million$76.20 millionViewListenView Earnings Details
2/26/2013Q4 2012$0.40$0.44$77.00 million$78.10 millionViewListenView Earnings Details
10/29/2012Q312$0.49$0.66$80.89 million$86.62 millionViewN/AView Earnings Details
7/30/2012$0.54$0.56ViewN/AView Earnings Details
4/25/2012$0.42$0.61ViewN/AView Earnings Details
2/22/2012$0.59$0.59ViewN/AView Earnings Details
10/26/2011$0.43$0.47ViewN/AView Earnings Details
7/27/2011$0.53$0.59ViewN/AView Earnings Details
4/27/2011$0.37$0.47ViewN/AView Earnings Details
2/23/2011$0.28$0.41ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)


Earnings Estimates for Kadant (NYSE:KAI)
Current Year EPS Consensus Estimate: $3.05 EPS
Next Year EPS Consensus Estimate: $3.48 EPS
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20163$0.58$0.73$0.68
Q2 20162$0.63$0.65$0.64
Q3 20162$0.64$0.65$0.65
Q4 20163$0.61$0.63$0.62
Q1 20172$0.65$0.67$0.66
Q2 20172$0.75$0.83$0.79
Q3 20172$0.80$0.91$0.86
Q4 20172$0.90$0.96$0.93
(Data provided by Zacks Investment Research)


Current Dividend Information for Kadant (NYSE:KAI)
Annual Dividend:$0.76
Dividend Yield:1.23%
Dividend Growth:25.40% (3 Year Average)
Payout Ratio:24.28% (Based on Trailing 12 Months of Earnings)
24.92% (Based on Current Year Consensus EPS Estimate)
21.84% (Based on Next Year Consensus EPS Estimate)
Track Record:3 Years of Consecutive Dividend Growth

Dividend History for Kadant (NYSE:KAI)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading History for Kadant (NYSE:KAI)
Insider Ownership Percentage: 5.80%
Institutional Ownership Percentage: 90.14%
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
1/9/2017William P TullyDirectorSell2,500$60.75$151,875.00View SEC Filing  
12/5/2016Eric T LangevinInsiderSell8,000$63.54$508,320.00View SEC Filing  
10/5/2016Thomas C LeonardDirectorSell5,000$51.80$259,000.00View SEC Filing  
9/19/2016Jeffrey L PowellInsiderSell7,773$51.20$397,977.60View SEC Filing  
8/18/2016Sandra L LambertVPSell4,118$52.00$214,136.00View SEC Filing  
8/15/2016Sandra L LambertVPSell3,316$50.85$168,618.60View SEC Filing  
8/4/2016Jonathan W PainterInsiderSell3,000$56.00$168,000.00View SEC Filing  
7/5/2016William P TullyDirectorSell3,750$51.85$194,437.50View SEC Filing  
7/1/2016Thomas C LeonardDirectorSell1,250$52.00$65,000.00View SEC Filing  
6/16/2016Jonathan W PainterCEOSell10,000$49.93$499,300.00View SEC Filing  
6/15/2016Jonathan W PainterCEOSell10,000$50.32$503,200.00View SEC Filing  
6/6/2016Thomas C LeonardDirectorSell2,500$50.00$125,000.00View SEC Filing  
6/2/2016Thomas C LeonardDirectorSell2,500$50.00$125,000.00View SEC Filing  
5/2/2016Thomas C LeonardDirectorSell2,500$48.00$120,000.00View SEC Filing  
4/26/2016Thomas C LeonardDirectorSell2,500$47.00$117,500.00View SEC Filing  
1/11/2016William P TullyDirectorSell3,750$38.03$142,612.50View SEC Filing  
11/9/2015John M AlbertineDirectorSell5,000$40.99$204,950.00View SEC Filing  
5/26/2015Thomas M ObrienCFOSell5,500$48.00$264,000.00View SEC Filing  
5/22/2015William P TullyDirectorSell3,750$48.02$180,075.00View SEC Filing  
5/6/2015Jeffrey L PowellEVPSell7,085$47.66$337,671.10View SEC Filing  
5/5/2015Jeffrey L PowellEVPSell14,172$49.44$700,663.68View SEC Filing  
3/12/2015Eric T LangevinCOOSell2,500$47.50$118,750.00View SEC Filing  
3/12/2015Jonathan W PainterCEOSell3,000$47.75$143,250.00View SEC Filing  
3/12/2015Thomas C LeonardDirectorSell2,000$48.00$96,000.00View SEC Filing  
3/11/2015Sandra L LambertVPSell2,887$46.40$133,956.80View SEC Filing  
3/5/2015Jonathan W PainterCEOSell8,000$46.00$368,000.00View SEC Filing  
2/27/2015Jonathan W PainterCEOSell7,500$44.58$334,350.00View SEC Filing  
2/27/2015Thomas M ObrienCFOSell10,400$44.41$461,864.00View SEC Filing  
2/9/2015Jonathan W PainterCEOSell2,250$42.75$96,187.50View SEC Filing  
2/9/2015Sandra L LambertVPSell1,156$43.00$49,708.00View SEC Filing  
2/9/2015Thomas C LeonardDirectorSell2,000$43.00$86,000.00View SEC Filing  
1/20/2015Sandra L LambertVPSell1,105$41.07$45,382.35View SEC Filing  
1/2/2015Jonathan W PainterCEOSell2,750$42.14$115,885.00View SEC Filing  
12/23/2014Eric T LangevinCOOSell2,500$43.75$109,375.00View SEC Filing  
12/23/2014Jonathan W PainterCEOSell1,300$44.05$57,265.00View SEC Filing  
12/23/2014Thomas M ObrienCFOSell10,017$43.10$431,732.70View SEC Filing  
12/22/2014Eric T LangevinCOOSell2,500$40.00$100,000.00View SEC Filing  
12/22/2014Jonathan W PainterCEOSell3,400$42.75$145,350.00View SEC Filing  
12/8/2014John M AlbertineDirectorSell10,500$41.60$436,800.00View SEC Filing  
11/6/2014Jonathan W PainterCEOSell1,404$42.19$59,234.76View SEC Filing  
10/31/2014Jonathan W PainterCEOSell4,500$41.94$188,730.00View SEC Filing  
10/28/2014Jonathan W PainterCEOSell2,500$41.20$103,000.00View SEC Filing  
10/28/2014Thomas M ObrienCFOSell6,600$40.99$270,534.00View SEC Filing  
10/27/2014William P TullyDirectorSell1,250$38.59$48,237.50View SEC Filing  
9/15/2014Thomas M ObrienCFOSell2,400$40.99$98,376.00View SEC Filing  
8/18/2014Sandra L LambertVPSell3,004$40.00$120,160.00View SEC Filing  
6/9/2014Thomas M ObrienCFOSell9,000$38.99$350,910.00View SEC Filing  
3/25/2014William P TullyDirectorSell1,250$37.66$47,075.00View SEC Filing  
1/23/2014Sandra L LambertVPSell5,322$38.83$206,653.26View SEC Filing  
12/23/2013Jonathan W PainterCEOSell7,500$40.52$303,900.00View SEC Filing  
12/16/2013William P TullyDirectorSell2,500$39.97$99,925.00View SEC Filing  
10/18/2013Thomas M ObrienCFOSell4,000$34.99$139,960.00View SEC Filing  
8/12/2013Thomas M ObrienCFOSell12,000$32.71$392,520.00View SEC Filing  
7/8/2013Sandra L LambertVPSell15,000$32.03$480,450.00View SEC Filing  
7/1/2013John M AlbertineDirectorSell5,610$30.69$172,170.90View SEC Filing  
6/17/2013Jeffrey L PowellEVPSell11,965$31.48$376,658.20View SEC Filing  
6/10/2013Eric T LangevinCOOSell7,500$31.03$232,725.00View SEC Filing  
6/5/2013Jonathan W PainterCEOSell15,000$31.53$472,950.00View SEC Filing  
5/15/2013Thomas M ObrienCFOSell4,000$28.99$115,960.00View SEC Filing  
5/14/2013Jonathan W PainterCEOSell10,000$28.50$285,000.00View SEC Filing  
(Data available from 1/1/2013 forward)


Latest Headlines for Kadant (NYSE:KAI)
4-traders.com logoKadant : beats 4Q profit forecasts (NYSE:KAI)
www.4-traders.com - February 24 at 10:00 AM
marketexclusive.com logoKADANT INC. (NYSE:KAI) Files An 8-K Results of Operations and Financial Condition (NYSE:KAI)
marketexclusive.com - February 24 at 10:00 AM
biz.yahoo.com logoQ4 2016 Kadant Inc Earnings Release - After Market Close (NYSE:KAI)
us.rd.yahoo.com - February 23 at 11:09 PM
us.rd.yahoo.com logo4:19 pm Kadant beats by $0.05, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY17 EPS below consensus, revs below consensus (NYSE:KAI)
us.rd.yahoo.com - February 23 at 11:09 PM
biz.yahoo.com logoKADANT INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits (NYSE:KAI)
us.rd.yahoo.com - February 23 at 11:09 PM
sg.finance.yahoo.com logoKadant beats 4Q profit forecasts (NYSE:KAI)
sg.finance.yahoo.com - February 23 at 11:09 PM
businesswire.com logoKadant Reports Fourth Quarter and Fiscal Year 2016 Results (NYSE:KAI)
www.businesswire.com - February 23 at 6:07 PM
finance.yahoo.com logoKadant to Hold Earnings Conference Call on Thursday, February 23, 2017 (NYSE:KAI)
finance.yahoo.com - February 17 at 4:19 PM
News IconBHS adds Kadant PAAL Balers to North American Recycling Equipment Offering (NYSE:KAI)
waste-management-world.com - January 28 at 11:15 PM
finance.yahoo.com logoKadant Expands PAAL Business into North America (NYSE:KAI)
finance.yahoo.com - January 26 at 7:51 PM
capitalcube.com logoKadant, Inc. breached its 50 day moving average in a Bullish Manner : KAI-US : January 25, 2017 (NYSE:KAI)
www.capitalcube.com - January 25 at 7:32 PM
capitalcube.com logoKadant, Inc. – Value Analysis (NYSE:KAI) : January 11, 2017 (NYSE:KAI)
www.capitalcube.com - January 11 at 6:43 PM
capitalcube.com logoKadant, Inc. breached its 50 day moving average in a Bearish Manner : KAI-US : January 10, 2017 (NYSE:KAI)
www.capitalcube.com - January 10 at 6:58 PM
thestreet.com logoCash Dividend On The Way From Kadant (KAI) (NYSE:KAI)
www.thestreet.com - January 7 at 4:49 AM
insidermonkey.com logoHedge Funds Aren’t Crazy About Kadant Inc. (KAI) Anymore (NYSE:KAI)
www.insidermonkey.com - December 7 at 10:27 AM
News IconEXECUTIVE VICE PRESIDENT, COO of Kadant Inc (NYSE:KAI), Langevin Eric T, sells 8,000 shares worth $508,298 (NYSE:KAI)
empowerednews.net - December 6 at 10:53 PM
kcregister.com logoVodafone Group Plc (ADR) (NASDAQ:VOD) announces launch of special caller tunes for speech, hearing damaged (NYSE:KAI)
www.kcregister.com - December 5 at 3:49 PM
finance.yahoo.com logoKadant to Host Its First Investor Day on December 1, 2016 (NYSE:KAI)
finance.yahoo.com - November 29 at 4:22 PM
finance.yahoo.com logoKadant to Host Its First Investor Day on December 1, 2016 (NYSE:KAI)
finance.yahoo.com - November 29 at 4:22 PM
4-traders.com logoKadant : Declares Cash Dividend (NYSE:KAI)
www.4-traders.com - November 18 at 5:25 PM
zacks.com logoTop Ranked Value Stocks to Buy for November 7th (NYSE:KAI)
www.zacks.com - November 7 at 9:34 AM
finance.yahoo.com logoKadant (KAI) Upgraded to Strong Buy on Solid Q3 & Outlook (NYSE:KAI)
finance.yahoo.com - November 7 at 9:34 AM
capitalcube.com logoETF’s with exposure to Kadant, Inc. : November 4, 2016 (NYSE:KAI)
www.capitalcube.com - November 4 at 4:58 PM
capitalcube.com logoKadant, Inc. :KAI-US: Earnings Analysis: Q3, 2016 By the Numbers : November 3, 2016 (NYSE:KAI)
www.capitalcube.com - November 3 at 5:45 PM
capitalcube.com logoKadant, Inc. breached its 50 day moving average in a Bullish Manner : KAI-US : November 3, 2016 (NYSE:KAI)
www.capitalcube.com - November 3 at 9:21 AM
finance.yahoo.com logoEdited Transcript of KAI earnings conference call or presentation 1-Nov-16 8:30pm GMT (NYSE:KAI)
finance.yahoo.com - November 2 at 6:00 PM
sg.finance.yahoo.com logoKadant tops Street 3Q forecasts (NYSE:KAI)
sg.finance.yahoo.com - November 2 at 9:18 AM
businesswire.com logoKadant Reports 2016 Third Quarter and Nine Month Results (NYSE:KAI)
www.businesswire.com - November 1 at 6:05 PM
finance.yahoo.com logo4:57 pm Kadant beats by $0.16, beats on revs; guides Q4 EPS below consensus, revs below consensus (NYSE:KAI)
finance.yahoo.com - November 1 at 6:05 PM
biz.yahoo.com logoQ3 2016 Kadant Inc Earnings Release - After Market Close (NYSE:KAI)
biz.yahoo.com - November 1 at 10:18 AM
biz.yahoo.com logoKadant Inc Earnings Call scheduled for 4:30 pm ET today (NYSE:KAI)
biz.yahoo.com - November 1 at 10:18 AM
publicnow.com logoKadant to Hold Earnings Conference Call on Tuesday, November 1, 2016 (NYSE:KAI)
www.publicnow.com - October 26 at 5:49 PM
capitalcube.com logoKadant, Inc. : KAI-US: Dividend Analysis : October 13th, 2016 (record date) : By the numbers : October 25, 2016 (NYSE:KAI)
www.capitalcube.com - October 25 at 5:50 PM
capitalcube.com logoKadant, Inc. breached its 50 day moving average in a Bullish Manner : KAI-US : October 20, 2016 (NYSE:KAI)
www.capitalcube.com - October 20 at 11:28 AM
thestreet.com logoReminder - Kadant (KAI) Goes Ex-Dividend Soon (NYSE:KAI)
www.thestreet.com - October 7 at 5:36 PM
publicnow.com logoKadant Declares Cash Dividend (NYSE:KAI)
www.publicnow.com - September 14 at 5:52 PM
capitalcube.com logoETF’s with exposure to Kadant, Inc. : September 9, 2016 (NYSE:KAI)
www.capitalcube.com - September 9 at 5:35 PM
finance.yahoo.com logoKADANT INC Financials (NYSE:KAI)
finance.yahoo.com - August 20 at 5:39 PM
fidaily.com logoInsiders Selling, Short Interest Growing Kadant Inc Common Stock (NYSE:KAI) (NYSE:KAI)
www.fidaily.com - August 18 at 5:49 PM
finance.yahoo.com logoKadant upgraded by Seaport Global Securities (NYSE:KAI)
finance.yahoo.com - August 18 at 5:49 PM
mysmartrend.com logoUptrend Call Working As Kadant Stock Rises 34.7% (KAI) (NYSE:KAI)
www.mysmartrend.com - August 12 at 5:54 PM
capitalcube.com logoETF’s with exposure to Kadant, Inc. : August 12, 2016 (NYSE:KAI)
www.capitalcube.com - August 12 at 5:54 PM
capitalcube.com logoKadant, Inc. breached its 50 day moving average in a Bearish Manner : KAI-US : August 11, 2016 (NYSE:KAI)
www.capitalcube.com - August 11 at 8:56 AM
capitalcube.com logoKadant, Inc. :KAI-US: Earnings Analysis: Q2, 2016 By the Numbers : August 10, 2016 (NYSE:KAI)
www.capitalcube.com - August 10 at 6:07 PM
biz.yahoo.com logoKADANT INC Files SEC form 10-Q, Quarterly Report (NYSE:KAI)
biz.yahoo.com - August 10 at 6:07 PM
News IconPRESIDENT AND CEO of Kadant Inc (NYSE:KAI), Painter Jonathan W, sells 3,000 shares worth $168,000 (NYSE:KAI)
empowerednews.net - August 9 at 8:51 AM
finance.yahoo.com logoEdited Transcript of KAI earnings conference call or presentation 4-Aug-16 3:00pm GMT (NYSE:KAI)
finance.yahoo.com - August 5 at 5:55 PM
sg.finance.yahoo.com logoKadant posts 2Q profit (NYSE:KAI)
sg.finance.yahoo.com - August 4 at 8:53 AM
publicnow.com logoKadant Reports 2016 Second Quarter Results (NYSE:KAI)
www.publicnow.com - August 3 at 6:06 PM
biz.yahoo.com logoQ2 2016 Kadant Inc Earnings Release - After Market Close (NYSE:KAI)
biz.yahoo.com - August 3 at 9:01 AM


What is Kadant's stock symbol?

Kadant trades on the New York Stock Exchange (NYSE) under the ticker symbol "KAI."

How often does Kadant pay dividends? What is the dividend yield for Kadant?

Kadant announced a quarterly dividend on Thursday, November 17th. Shareholders of record on Thursday, January 12th will be paid a dividend of $0.19 per share on Thursday, February 9th. This represents a $0.76 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, January 10th.

Where is Kadant's stock going? Where will Kadant's stock price be in 2017?

3 equities research analysts have issued 1-year price objectives for Kadant's shares. Their forecasts range from $49.00 to $75.00. On average, they anticipate Kadant's share price to reach $60.67 in the next twelve months.

When will Kadant announce their earnings?

Kadant is scheduled to release their next quarterly earnings announcement on Thursday, February, 23rd 2017.

Who owns Kadant stock?

Kadant's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Dimensional Fund Advisors LP (8.46%), Royce & Associates LP (5.78%), Brown Advisory Inc. (5.24%), JPMorgan Chase & Co (4.20%), Handelsbanken Fonder AB (2.75%) and William Blair Investment Management LLC (2.58%). Company insiders that own Kadant stock include Eric T Langevin, Jeffrey L Powell, John M Albertine, Jonathan W Painter, Sandra L Lambert, Thomas C Leonard, Thomas M Obrien and William P Tully.

Who sold Kadant stock? Who is selling Kadant stock?

Kadant's stock was sold by a variety of institutional investors in the last quarter, including Royce & Associates LP, Brown Advisory Inc., Loomis Sayles & Co. L P, William Blair Investment Management LLC, Numeric Investors LLC, Renaissance Technologies LLC, Two Sigma Investments LP and Allianz Asset Management AG. Company insiders that have sold Kadant stock in the last year include Eric T Langevin, Jeffrey L Powell, Jonathan W Painter, Sandra L Lambert, Thomas C Leonard and William P Tully.

Who bought Kadant stock? Who is buying Kadant stock?

Kadant's stock was purchased by a variety of institutional investors in the last quarter, including Thrivent Financial for Lutherans, AQR Capital Management LLC, Handelsbanken Fonder AB, Menta Capital LLC, Summit Global Investments, Trexquant Investment LP, Wexford Capital LP and Dynamic Technology Lab Private Ltd.

How do I buy Kadant stock?

Shares of Kadant can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of Kadant stock cost?

One share of Kadant stock can currently be purchased for approximately $61.70.

Kadant (NYSE:KAI) Chart for Friday, February, 24, 2017

Institutional Ownership Chart

Institutional Ownership by Quarter for Kadant (NYSE:KAI)

Earnings History Chart

Earnings by Quarter for Kadant (NYSE:KAI)

Dividend History Chart

Dividend Payments by Quarter for Kadant (NYSE:KAI)

Last Updated on 2/24/2017 by MarketBeat.com Staff