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June 29, 2010 52-Week Low Wrap-Up: Alliant Techsystems, AK Steel, Arrow Financial, Blackrock, Brink’s Company, Cameco, Colony Financial, ENGlobal, ExxonMobil, Harbinger

Patrick Goldin

Patrick Goldin

2 followers
Today, 144 companies’ share prices reached a new 52-week low. Of these companies, these are the ones that look interesting based on my initial research:

Alliant Techsystems (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.

AK Steel (AKS)

Ohio-based AK Steel is a leading producer of flat-rolled carbon, stainless, and electrical steel and tubular products. Its products are sold primarily to the automotive industry (40% of sales), the appliance, industrial machinery, and construction industries (30%), and independent service centers (30%).

Arrow Financial (AROW)

Arrow Financial is the holding company for its two subsidiaries, Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., which together operate over thirty banking offices in eastern New York. The banks provide checking, saving, money-market, and individual retirement accounts, as well as certificates of deposit. In addition, the banks offer estate-services, credit-card-processing services for other banks, and corporate pension, profit-sharing, and employee-benefit-administration services.

Blackrock (BLK)

BlackRock provides asset management services primarily for institutional investors, which account for 75% of the firm's AUM. BlackRock has more than $3 trillion invested in equity/hybrid (46% of total AUM), fixed-income (32%), and money market (10%) funds, with the remainder in multi-asset class, alternative investment, and long-term portfolio liquidation strategies. Passive equity and fixed-income funds account for half of BlackRock's managed assets.

Brink’s Company (BCO)

The Brink’s Company is a provider of secure transportation, cash logistics and other security-related services to banks and financial institutions, retailers, government agencies, mints, jewelers and other commercial operations worldwide. The Company’s international network serves customers in more than 50 countries and employs approximately 59,400 people. Its operations include approximately 875 facilities and 10,500 vehicles. 71% of its revenues are from outside North America.

Cameco (CCJ)

Canada-based Cameco is an integrated nuclear energy company involved in uranium mining, conversion services, and power generation. The company is the world's largest uranium producer and owns some of the richest deposits. Cameco participates in power generation through a stake in Bruce Power, a large Canadian nuclear power facility. Cameco also owns stakes in Centerra Gold, a publicly traded gold miner, and GLE, a uranium enrichment company.

Colony Financial (CLNY)

Colony Financial plans to acquire, originate, and manage commercial mortgage loans and other commercial real estate-related debts. The current market capitalization of the company is $254 million, compared to equity of $273.4 million.

ENGlobal (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.

ExxonMobil (XOM)

Exxon is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2009, it produced 2.4 million barrels of oil and 9.3 billion cubic feet of natural gas a day. At year-end 2009, reserves stood at 14.95 billion boe (plus 8.03 billion for equity companies), 62% of which are oil. The company is the world's largest refiner with 37 refineries, and it is one of the world's largest manufacturers of commodity and specialty chemicals.

Harbinger (HRG)

Harbinger Group Inc. is a holding company. The Company owns approximately 98% of Zap.Com Corporation . On July 9, 2009, Harbinger Capital Partners Master Fund I, Ltd. , Global Opportunities Breakaway Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. (Special Situations Fund and together with the Master Fund and Global Fund, the Company’s principal stockholders) purchased 9,937,962 shares of its common stock. As a result, the company is controlled by Phillip Falcone and has a market cap of $123 compared with equity of $143.3

Harsco (HSC)

Harsco is an industrial services firm that operates four business units. The Mill Services unit recovers manufacturing byproducts and streamlines material usage. Access Services rents scaffolding and concrete forming products to the construction industry. Heat Transfer equipment, railroad maintenance products and metal grating are a few of the products developed by the Engineered Products group. Gas Technologies produces precision valves and canisters for the gas industry.

Morgan Stanley (MS)

Morgan Stanley is a global investment bank with history through its legacy firms that can be traced back to 1924. The company has institutional securities, wealth management, and asset management segments and more than 60,000 employees. The company derives about half of its total revenue outside the Americas.

Nokia (NOK)

Nokia is the world's largest manufacturer of mobile devices and a leader in mobile network equipment and software. The company's mobile phones provide consumers with experiences in voice, video, gaming, navigation, imaging, and music. Through its 50%-owned Nokia Siemens Networks joint venture, the company provides equipment and services to network operators, service providers, and corporations.

Monsanto (MON)

Monsanto is one of the world's leading providers of agricultural inputs, including seeds, biotechnology traits, and herbicides. The company has a presence in more than 100 countries and generated $11.7 billion in sales during its fiscal 2009. The firm's seed and genomics segment generated 67% of companywide gross profit in 2009, while the herbicide segment contributed 33%.

Nomura (NMR)

Nomura Holdings is the largest securities and investment banking firm in Japan. Its primary lines of business include retail investment services, fixed-income and equity trading, mergers and acquisition advisory services, merchant banking, and asset management. Nomura was founded in Osaka, Japan, in 1925 by Tokushichi Nomura II. The company is currently based in Tokyo.

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.

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.

Research in Motion (RIMM)

Research in Motion designs and markets wireless handsets, software, and services. RIM's primary revenue driver is the sale of handsets to carriers worldwide that promote the company's BlackBerry line of devices. In addition, RIM generates access service fees from carriers for each BlackBerry subscriber. Software licensing revenue is also generated from corporate clients incorporating the BlackBerry Enterprise Server software in their wireless data management.

State Street (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.

Supervalu (SVU)

SUPERVALU operates in two segments, primarily in the grocery sector: retail and supply-chain services. Through its retail operations, which account for about 80% of annual sales, the company operates mostly conventional supermarkets, such as Albertsons, and low-price, limited-assortment Save-A-Lot stores. SUPERVALU's supply-chain services segment provides distribution and related logistics support services to more than 2,500 independent retailers and other grocery endpoints.

TD Ameritrade (AMTD)

TD Ameritrade Holding is a securities brokerage firm that primarily services retail investors and independent registered investment advisors in the United States. The company derives the majority of its income from trade execution fees and revenue based on client asset balances.

Tidewater (TDW)

Tidewater operates the world's largest fleet of service vessels, which are contracted by offshore energy firms. These vessels transport supplies and personnel to offshore rigs and tow mobile rigs to new destinations worldwide. The firm also operates Quality Shipyards, a wholly owned subsidiary that constructs and repairs vessels. Since its founding in 1955, Tidewater has expanded its fleet from a single vessel to approximately 400 vessels.

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.

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

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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