Is CBI still a good buy? Short answer: yes. In fact, Joel Greenblatt
just picked up almost 680,000 shares himself. Chicago Bridge & Iron (CBI
), a large global engineering, procurement, and construction company, has recently won several contracts to build large storage facilities and platforms. For instance, on August 6 the company announced that it had been awarded a contract worth over $49 million by Oiltanking Beaumont L.P. This contract involves procurement, engineering, fabrication and construction of 12 internal floating-roof crude oil storage tanks in Beaumont, Texas. They have worked with Oiltanking Beaumont in the past, and apparently have a good relationship with the organization. In addition, CBI
also announced at the end of July that it had been awarded a front-end engineering design services contract for Golden Pass Products, LLC. More...