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June 1, 2010 52-Week Low Wrap-Up

Patrick Goldin

Patrick Goldin

2 followers
For June 1, 87 companies reached a new 52-week low. Of these companies, these are the ones that look interesting based upon my preliminary research:

Alliant Techsystems Inc. (ATK)

Alliant Techsystems Inc. (ATK) is a supplier of aerospace and defense products to the United States government, allied nations, and prime contractors. It is also a supplier of ammunition and related accessories to law enforcement agencies and commercial customers. As of March 31, 2009, the Company had three segments: ATK Armament Systems, ATK Mission Systems and ATK Space Systems. ATK Armament Systems develops and produces military ammunition and gun systems, commercial products, tactical accessories and equipment, and propellant and energetics.

Allied Defense Group (ADG)

The Allied Defense Group is an international defense and security company that manufactures military equipment and provides related services. The company is split into four operating units. Ordnance and Manufacturing, headed by Mecar, produces ammunition and other weapons; Electronic Security designs security systems for governments and business; Environmental Safety and Security provides data for weather systems; and the Software, Training, and Simulation segment designs simulations for government training exercises.

BP Plc (BP)

BP is global integrated oil and gas company with operations across six continents. BP's upstream operations produced 4.0 million barrels of oil equivalent per day in 2009. Downstream operations include refineries with 2.7 million barrels per day of capacity, petrochemical plants, and retail marketing operations with 22,600 service stations.

Cal Dive International (DVR)

Cal Dive International, a marine contractor company, provides underwater services to offshore natural gas and oil firms. These services include manned diving, pipe lay and pipe burial services. It also constructs, inspects, maintains, repairs and decommissions offshore pipeline infrastructure in the Gulf of Mexico, Middle East, Southeast Asia, and Australia.

Center Bancorp (CNBC)

Center Bancorp is the holding company for Union Center National Bank, which operates approximately 13 banking offices in northeastern New Jersey. The bank provides savings, checking, money market, and individual retirement accounts, as well as certificates of deposit. Union Center National Bank also originates real estate, business, and consumer loans. The banks also offer a range of lending, depository and related financial services, including trust services, to commercial, industrial, and governmental customers.

Diamond Offshore Drilling (DO)

Diamond Offshore is an offshore contract driller with 47 rigs drilling around the world for natural gas and oil. The firm contracts with some of the largest oil and gas companies to drill in places such as Brazil and Australia. The company was a wholly owned subsidiary of Loews until 1995, when the parent company publicly offered a portion of the contract driller.

Duff & Phelps (DUF)

Duff & Phelps is a provider of independent financial advisory and investment banking services. The Company provides independent advice on issues involving highly technical and complex assessments in the areas of valuation, transactions, financial restructuring, disputes and taxation. Its clients include publicly-traded and privately-held companies, government entities, and investment firms, such as private equity firms and hedge funds. The Company provides its services through three segments: Financial Advisory, Corporate Finance Consulting and Investment Banking.

Euronet Worldwide (EEFT)

Euronet is an electronic payment provider, offering EFT processing, prepaid phone and debit card sales, and money transfer services. The company operates more than 10,000 ATMs and a network of approximately 430,000 point-of-sale terminals for electronic processing of prepaid mobile airtime. It originates transactions through a network of 75,800 money transfer locations in more than 100 countries. Euronet generates roughly 75% of its revenues from its non-U.S. operations.

GAMCO Investors (GBL)

GAMCO Investors is a provider of investment advisory services to mutual funds, institutional and private wealth management investors, and investment partnerships, principally in the United States. Through Gabelli & Company, Inc. (Gabelli & Company), it provides institutional research services to institutional clients and investment partnerships. It generally manages assets on a discretionary basis and invests in a variety of United States and international securities through various investment styles. Its revenues are based primarily on the firm’s levels of assets under management and to a lesser extent, incentive fees associated with its various investment products.

Hilltop Holdings (HTH)

Hilltop Holdings is a holding company that anticipates seeking to make strategic acquisitions and investments with certain of the proceeds from its asset sale which was completed in July 2007. Hilltop currently owns a property and casualty insurance operation, NLASCO, located in Waco, Texas, that focuses on providing fire and homeowners insurance for low value dwellings and manufactured homes primarily in Texas and other areas of the south, southeastern and southwestern United States.

Hercules Offshore (HERO)

Hercules Offshore is an offshore drilling company with a variety of jackups, barges, and liftboats. Its operations are primarily focused on the Gulf of Mexico shallow-water market. Its customers are mainly independent oil and natural gas exploration and production companies.

Hornbeck Offshore Services (HOS)

Hornbeck Offshore has one of the largest offshore supply vessel fleets, which it uses to transport goods and supplies to and from offshore rigs and platforms, primarily in the Gulf of Mexico. It also has a large fleet of tug and tank barges, which mostly transport petroleum in the Northeastern United States. Hornbeck has several new multipurpose supply vessels on order, which are expected to better address clients' needs for larger vessels.

Neutral Tandem (TNDM)

Neutral Tandem provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies. Competitive carriers use tandem switches to interconnect and exchange local and long distance traffic between their networks without the need to establish direct switch-to-switch connections. As of December 31, 2009, the Company had operated in 137 markets connecting calls to an estimated 480 million telephone numbers assigned to carriers.

Noble (NE)

Noble is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 62 mobile offshore drilling units. This fleet consists of 13 semisubmersibles, four drillships, 43 jackups and two submersibles. The fleet count includes two units under construction: one ultra-deepwater, Globetrotter-class drillship, and one deepwater semisubmersible. As of January 28, 2010, approximately 87% of the Company’s fleet was deployed in the Middle East, India, Mexico, the North Sea, Brazil and West Africa.

Oceaneering International (OII)

Oceaneering International, Inc. is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology, the Company also serves the defense and aerospace industries. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry and all other services and products. Its five business segments within the Oil and Gas business are Remotely Operated Vehicles, Subsea Products, Subsea Projects, Inspection and Mobile Offshore Production Systems. The services and products provided to the oil and gas industry include ROVs, built-to-order specialty hardware, engineering and project management, subsea intervention services, non-destructive testing and inspection, manned diving and mobile offshore production systems.

Pride International (PDE)

Pride International is an offshore drilling contractor. It provides contract drilling services to oil and natural gas exploration and production companies through the use of mobile offshore drilling rigs in the United States and international waters. Pride provides the rigs and drilling crews and is responsible for the payment of operating and maintenance expenses. In addition, it also provides rig management services on a range of rigs, consisting of technical drilling assistance, personnel, repair and maintenance services and drilling operation management services. The Company’s customers include oil and natural gas companies, state-owned national oil companies and independent oil and natural gas companies. As of February 19, 2010, the Company operated a fleet of 23 rigs, consisting of two deepwater drill ships, 12 semisubmersible rigs, seven jackups and two managed deepwater drilling rigs. In August 2009, Pride completed the spin-off of Seahawk Drilling, Inc.

Seadrill (SDRL)

Seadrill Limited, an offshore drilling contractor, provides drilling and well services worldwide. Its fleet comprises harsh-environment semi-submersibles, heavy duty jack-ups, shallow water tender rigs, and deep water drillships. The company also offers platform drilling, well intervention, and engineering services. As of December 31, 2008, it had an interest in 43 offshore drilling units, including 11 units under construction.

State Street Corporation (STT)

State Street is one of the largest trust banks worldwide, combining banking, asset servicing, and asset-management operations. The company also offers services such as foreign exchange, cash management, credit, and electronic trading to help customers negotiate complex global financial markets efficiently. State Street Global Advisors, its asset management arm, is the world's largest institutional money manager and a leading provider of ETFs.

Tejon Ranch (TRC)

Tejon Ranch owns around 270,000 acres of land north of Los Angeles. Although at one time used almost exclusively for agricultural purposes, the majority of income is now earned through transactions related to real estate. The company owns and operates an industrial complex on the land, which leases space to industrial and commercial users, as well as ranching and recreational facilities. Agricultural operations still produce significant portions of revenue, earned through the sale of fruits, vegetables and nuts to commercial buyers

Transocean (RIG)

Transocean is an offshore drilling company. Its fleet of 138 vessels includes drillships, semisubmersibles, and jackups, which operate in technically demanding environments, such as Brazil, Nigeria, and Italy. It contracts primarily with some of the largest global exploration and production companies. In November 2007, Transocean completed a merger with offshore driller GlobalSantaFe in a $53 billion cash and stock transaction.

Union Drilling (UDRL)

Union Drilling provides contract land drilling services and equipment, primarily to natural gas producers. In addition to the Company’s drilling rigs, it provides the drilling crews and most of the ancillary equipment needed to operate its drilling rigs. As of December 31, 2009, the Company operated a fleet of 71 marketed land drilling rigs. The Company focuses on operations in selected natural gas production regions in the United States, primarily the Fort Worth Basin in North Texas, the Arkoma Basin in Oklahoma and Arkansas and throughout the Appalachian Basin. It does not invest in oil and natural gas properties. The Company markets its rigs to a range of customers, who are principally independent natural gas producers.

Weatherford International (WFT)

Weatherford International provides a large portfolio of services, including pressure pumping, directional drilling, and artificial lift, which help boost oil and natural gas production. The firm's mainly international bases of customers are exploration and production companies, as well as national oil companies.

About the author:

Patrick Goldin
Patrick Goldin is the General Partner of the Alain Value Fund LP, a limited partnership exercising a value-focused and bottom-up securities approach. In addition to his duties as general partner, he is a student in high school. He can be reached at patrick.goldin@alainvaluefund.com

Rating: 3.0/5 (4 votes)

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