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Strategies & Market Trends : Value Investing
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To: richardred who wrote (54396)10/13/2014 11:14:41 AM
From: E_K_S1 Recommendation

Recommended By
richardred

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Re: Art's-Way Manufacturing Co. Inc. (ARTW)

Yes I am holding. The value is there since I bought on it's low BV (BV=$4.66/share) so my entry point is close to that on one of my recent Buys. Like you said, earnings were actually quite good considering the other much larger AG companies (like DE and AGCO). They seem to be managing their farm equipment market quite well and have expanded their exposure to other "niche" areas w/ their recent acquisition(s), Universal Harvester Company & Roda manure spreaders and M&W Balers .

Also, they have exposure in the Pressurized Vessels segment that could see expansion into the LNG tank segment. At least some type of specialty tanks that utilize compressed NG so that could be a possible growth area.

Finally, their clean lab modular buildings is sort of the "wild-card" since these ready to use clean Labs could be configured for Ebola quarantine units.

Overall, I think they are still undervalued and they do pay a small dividend. My overall position is small (<0.05% of the portfolio). No plans to add shares but will hold these watching how their product segments perform over the next few quarters. I would say that 2.5x BV and/or a PE >17, I would consider selling the position.

EKS
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