A Hidden Play on Infrastructure

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Fools, I'm here to tell you about a solid -- and obviously under-followed -- mid-cap stock: KHD Humboldt Wedag (NYSE: KHD). Admittedly, it sounds somewhat mundane: a Hong Kong-based company that makes and markets equipment for the manufacture of cement and the treatment of coal and other extractive minerals. Boring? Maybe, but with the developing world blowing and going, and with natural resources having become the name of the game during the past couple of years, the company appears to have found a sweet spot.

When I look over KHD's earnings picture, its balance sheet, and -- perhaps most importantly -- its order flow, I'm inclined to sit up and take notice. Most notable is the company’s 88% year-over-year boost in pro forma profits, and a near doubling of order intakes. Similarly, the company’s order backlog is up 96% year over year to $1.3 billion as of June 30.

I think it's also meaningful that 57% of the company's order intake in the first six months of this year came from Russia and Eastern Europe, while another 31% came from Asia. Like fellow Motley Fool Global Gains selection Cemex (NYSE: CX), the company stands poised to profit from the secular tailwinds behind growing worldwide demand for infrastructure buildout.

It also seems important to note that KHD isn't about to topple under the weight of analysts crawling all over it. Indeed, it appears that only a single dart-thrower follows the company actively. That's just another number that points to a company that's flying low -- well below the radar -- but one that shouldn't get by Foolish detection systems.