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Non-Tech : Heavy Machinery. CAT DE CSE DDC CUM
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To: Stormweaver who wrote (90)5/5/1999 12:06:00 PM
From: Wade  Read Replies (2) of 190
 
James,
Thank you.

I have found an undervalued stock, Commercial Intertech Corp. (TEC-NYSE) to report. 60% of their business is hydraulic systems used in heavy machines. Their major customers include CAT, DE, CSE, AG and military. The down turn of this sector hit TEC very hard during last year. However, after cost cutting and reorganization TEC turned in 0.15 per share profit before charges in Q1. It is expected to improve earnings significantly in the next several Qs when the industry turns around. The recent rally of this sector is the leading indicator for TEC, IMHO. TEC currently gives 0.60 dividend annually which is equivalent to sit on a high interest account to wait for its recovery. The down side risk is very low. Besides, it has low PE and healthy balance sheet. And about 50% institution support. Recently A. G. Edward rated it Accumulation-Aggressive on 2/26, and Baird R. W. rated it Moderate-buy on 4/28(just found this last night). I have bought this stock and expect it to run through $14 5/8 resistance and reach $20 and beyond in 6 months if the stock market still stay at this level. This is a very undervalued stock, IMHO. This stock is on the move in the last two days. Good luck.

Sincerely,
Wade
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