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June 2, 2010 52-Week Low Wrap-Up: Alliant Techsystems Inc., Allied Defense Group, Duff & Phelps, ENGlobal Corporation, Euronet Worldwide, Hilltop Holdings, Hercules Offshore

 Patrick Goldin

Patrick Goldin

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Today, 77 companies set a new 52-week low. Of the companies, these are the ones that may be good opportunities based on my initial research.

Alliant Techsystems Inc. (ATK)

Alliant Techsystems 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.

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.

ENGlobal Corporation (ENG)

ENGlobal provides industrial products and consulting services, primarily for oil and gas firms. The company also serves various municipalities and communications firms. The company manufactures power products, such as battery chargers, instrumentation and control systems, and monitoring systems. Services provided by the company include field services, network modeling, and air emissions consulting.

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.

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, Inc. (“NLSACO”) 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.

Penson Worldwide (PNSN)

Penson Worldwide provides securities-processing infrastructure products and services to the global securities and investment industry. Its products and services include securities and futures clearing, margin lending, facilities management, technology, and other related offerings to broker-dealers, hedge funds, banks, and financial technology firms.

Toyota Motor (TM)

Toyota Motor has grown to become the world's largest automaker. Its brands include Toyota, Lexus, Scion, and Hino, and market share in Japan is over 45% while U.S. share is about 17%. The firm also owns nearly 23% of Denso, a parts supplier. Toyota sold 7.6 million vehicles in fiscal 2009; automotive sales were JPY 19.2 trillion. Toyota also has a financing arm, holds ownership in telecommunications firm KDDI, and manufactures homes.

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

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

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