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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (30873)	5/7/2008 4:40:20 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78652

TS. A great call here and on other threads by fp_scientist in '06 and '07. Fwiw, it was mentioned here (by Winix) that this company is controlled by Euro based Techint Group who also own/control TX (a stock that Winix liked). (TX recently in the news as a steel maker having its confiscatory difficulties with Mr. Chavez.) I still hold a few shares of both stocks. Haven't looked closely at TS in a while though. In past, tubular steel providers like TS have traded at p/e multiples well under 10. Now I believe they are all (of the ones I follow) at much higher multiples. I don't know if this is because all types of oil service equipment suppliers are in high demand, or if the particular sector is being brought up to the multiples of other equipment providers, or what. The business in past has been very cyclical though, so I can understand why p/e multiples of 5-7 might've been the norm. One other company whose stock I have for Brazil drill pipe is France's diversified Vallourec: finance.yahoo.com Fwiw, regarding drill pipe, the only company whose stock I'm buying now is Chinese WH, operating in the Chinese market. Assuming the accounting is correct as reported by Yahoo, the p/e is somewhere around 6-7, putting it in the range I'm used to seeing in the past for this sector, and well below what every other drill pipe manufacturer is selling for (afaik, and I may be very wrong.) Fwiw, I've been buying small as stock has moved up, my latest purchase being today. finance.yahoo.com