In the latest wave of yearly predictions, most analysts are touting industrial stocks for 2013. One reason is because this group has under-performed in the bull market of the past few years, and values are relatively attractive.Cheaper For bulk buying drycabinet prices. Another is that industrial companies generally reflect the cyclical nature of the overall economy, which seems to be improving. Most economists expect further US and global recovery in 2013, with double-dip recession fears fading in the rear view mirror.
Of course, now that industrials have entered the spotlight,Capture the look and feel of real stone or howotruck
flooring with Alterna by Armstrong. the obvious plays have been bid up.
The following chart of the NASDAQ Industrial segment indicates the
relatively flat return over the past two years until the dawn of 2013.
The recent 17% rise is more than double that of the market in general in
the past two months.
Engages in the precision contract metal
machining business in the United States primarily for customers in the
recreational vehicle, energy, aerospace/avionics/defense, and bioscience
industries. WSCI provides single-source turn-key solutions, including
engineering support, raw material procurement, outside services,
supplier management, precision manufacturing and assembly and stocking
of finished goods for large volume customers under multi-year
The company recently reported a 43% sales increase
in the first quarter of 2013 and a 310% increase in net income. This is
no fluke as WSCI improved sales by 30% in the 2012 fiscal year, and it
increased earnings by 64%. If anything, business is accelerating.
From a value point of view, it carries a trailing P/E of 10 and the stock, at its current price of $6.15,Do you know any polishedtiles
wholesale supplier? has a market cap of 1.5 times its book value and
about half of its sales volume. It currently pays a very nice dividend
yield of 2.6%. The dividend represents less than 30% of earnings, so
coverage is reasonable, and there is room for distribution growth. So,
with exceptional growth, value and income yield, why has WSCI not
participated in the industrial rally?
Polaris is enjoying 12%
sales growth and that trend is expected to continue through 2014.
Obviously, the dependence on PII is a double-edge sword for WSI
Industries. If PII were to reduce orders, WSCI would be in trouble.
However, the engineering, tooling and volume requirements that WSCI
provides in this relationship make it difficult for competitors to step
in, or for PII to invest the capital to produce these precision
components in its own facilities. Even if PII made that change, it would
take some time for a WSCI competitor to be able to meet the growth
needs of PII. Smaller competitors are not capable of investing in the
appropriate technology, plant capacity and automation systems to be
competitive and meet customer expectations for superb quality.
deal with the growth expectations of its core customers, WSCI is
currently building an additional facility to double capacity,Posts with howotractor
system on TRX Systems develops systems that locate and track personnel
indoors. and that should be on-line in July 2013. Management has stated
that one-third of the new plant will be occupied with existing orders
The dependence on Polaris is probably
considered a negative by the market, but the growth trajectory and
relationship with that customer is allowing WSCI to expand capacity and
further separate from competition, as well as provide opportunities for
an expanded customer base.We maintain a full inventory of all lanyard we manufacture.
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