JST, et. al. Yes, I'm still holding some JST shares purchased in '03 and most recently Jan and Mar '09. Traded some shares in '08. This year has been set-and-forget for me with JST. My error: if I knew what I was doing and what I had with JST after all these years of following it and had any confidence, I shoulda/coulda added much more esp. as stock advanced this year. But I didn't and didn't.
Over the past few years JST has moved from being a great net-net to moving to value stock to now, a gaarp stock, if not still a value stock. I'm positive on the company, afraid to commit to more shares at current price though, since I've already been late. And this thing can be volatile, as a five year chart shows.
I'm still holding ABB. I like JST better only because it's an easier company for me to understand/follow than ABB. (ABB being so much larger and more diversified. And also ABB more of a checkered past - just a few years ago flirting with bankruptcy.)
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For the electrical grid buildout and as an adjunct to utility stocks and ag stocks both of which I've been favoring, I'm a buyer now (today) of an initial few shares of Valmont [t]VMI[/t] (<span style='font-size:11px'>LAST</span>: 71.17<span style='font-size:11px'> 7/31/2009 11:15:12 AM</span>) (<span style='font-size:11px'>LAST</span>: 71.13<span style='font-size:11px'> 7/31/2009 11:07:11 AM</span>) .
valmont.com
From the 7/21 quarterly p.r. I see that sales and earnings have held up in a general market where many (most?) other companies' sales are down. Co. ceo is upbeat on the company's future, and it seems to me too that VMI could do and might do well in future.
Mr. Bay, Valmont's Chairman and Chief Executive Officer said about 2009 outlook,
"Our outlook for 2009 has improved," Mr. Bay said. "Although we expect sales comparisons to be lower in the second half of the year, we now expect net earnings for the year to be modestly higher than 2008's record earnings.
"Our sales outlook in the second half of the year is based on several factors. Current raw material costs are down from last year, which could impact comparisons in some businesses. In the North American utility market, we expect the sales gain in the second half to moderate as a number of large orders have shipped. In the Engineered Support Structures Segment, while we do not expect major changes in market conditions, we have recently seen an improvement in our export markets from Europe and China; as a result second half sales could show positive comparisons. For the North American business, an important long-term driver would be an extension or renewal of the U.S. Federal Highway bill. In the Coatings Segment, we expect sales declines, reflecting weakness in the industrial economy and lower zinc prices. In the Irrigation Segment, third quarter comparisons will be substantially unfavorable compared to last year's record third quarter results. Fourth quarter results will be determined by the conditions in the agricultural sector following the fall harvest in North America and the resultant outlook for farm income.
"We have leadership positions in very attractive markets. When economic conditions improve, we should be well positioned to participate in global infrastructure and agriculture growth. Our industry, product lines and geographic diversification have allowed us to deliver record earnings during the current global economic recession. We will continue to be prudent in our management of capital and maintain a conservative financial profile."
Although VMI's p/e is somewhat lower than its avg. p/e over the past few years and I am looking at a steadily increasing bv over the past decade, I don't see ratio numbers low enough to where I can say VMI is a value stock: It's a gaarp stock to me. Prospects seem good, price seems right; I am a buyer of the stock. (A few shares at current price)
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Now as I consider JST again after your post and in the context of all this, maybe I will try some speculative swing trading in JST with a new small dollar commitment. |
