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Patrick Goldin
Patrick Goldin

May 20, 2010 52-Week Low Wrap-Up: Alliant Techsystems Inc., Bank of Kentucky Financial, Euronet Worldwide, Diamond Offshore Drilling, Seahawk Drilling etc.

May 20, 2010 52-Week Low Wrap-Up

Many great value investors review the list of companies whose share price set a new 52-week low in search of investing ideas. While many of these companies are poor investments, this list is good starting point when searching for bargains. Starting today, I will try to give a quick wrap-up of the companies that may be worth investing in. For May 20, 2010, there was a total of 223 companies whose share price reached a new 52-week low.

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. Aviva PLC (AV)

Aviva is the world’s fifth-largest insurance group, serving 53 million customers across Europe, North America, and the Asia-Pacific region. The firm's main business activities are life insurance, fund management, and general insurance. About a third of sales are from the U.K., where Aviva is the country's largest insurance services provider. Aviva is one of the leading providers of life and pension products on the continent.

Bank of Kentucky Financial (BKYF)

Bank of Kentucky Financial is the holding company for The Bank of Kentucky, a community bank providing consumer and commercial services throughout Northern Kentucky. The bank offers traditional savings services and offers real estate, commercial, consumer, and construction loans.

Crexus Investment (CXS)

Crexus Investment IPO’ed in late September 2009 and acquires, manages, and finances commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, and other commercial real estate-related assets. The company’s current market cap is $232 million, compared to equity of $257.5 million. So the company trades at a slight discount to its assets. [i][/i]

Euronet Worldwide (NASDAQ: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.

The 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; Enviromental Safety and Security provides data for weather systems; and the Software, Training, and Simulation segment designs simulations for government training exercises.

Diamond Offshore Drilling (NYSE: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.

Seahawk Drilling (NASDAQ:HAWK)

Seahawk Drilling, Inc. operates a jackup rig business that provides contract drilling services to the oil and natural gas exploration and production industry in the Gulf of Mexico. As of December 31, 2009, the Company’s fleet of mobile offshore drilling rigs consisted of 20 mat-supported jackup rigs that are capable of operating in maximum water depths of up to 300 feet and drilling to depths of up to 25,000 feet. The Company contracts with its customers on a day-rate basis to provide rigs and drilling crews. Seahawk’s customers primarily consist of various independent oil and natural gas producers, drilling service providers and the national oil company in Mexico, (PEMEX). Effective August 24, 2009, Seahawk was spun-off from its parent company, Pride International, Inc.

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.

Nokia Corporation (NYSE: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.

Omega Navigation Enterprises (ONAV)

Omega Navigation Enterprises provides marine transportation services worldwide through the ownership and operation of tankers. It focuses on seaborne transportation of refined petroleum products. It generates revenues by employing vessels on long-term charters.

Orion Marine Group (ORN)

Orion Marine Group is a marine specialty contractor serving the heavy civil marine infrastructure market. It provides a range of marine construction services on, over and under the water along the Gulf Coast, the Atlantic Seaboard and in the Caribbean Basin. In addition, it provides dredging, repair and maintenance, and other specialty services. Orion’s customers are federal, state and municipal governments, as well as private commercial and industrial enterprises. In January 2010, Orion purchased T.W. LaQuay Dredging, LLC, a dredging company based in Texas, which owns and operates marine construction equipment, including several large dredges.

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.

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.

SuperMedia (SPMD)

SuperMedia Inc., formerly Idearc Inc. is a yellow pages directory publisher in the United States. It provides media advertising programs to the clients and consumers, through the SuperYellowPages, Superpages.com and SuperpagesDirect, as well as services, such as the SuperGuarantee and SuperTradeExchange Programs. During 2009, it distributed about 121 million copies of these directories to businesses and residences in the United States.

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.

Symetra Financial Corporation (SYA)

Symetra Financial is a life insurance company focusing on profitable growth in select group health, retirement, life insurance and employee benefits markets. Its main products include medical stop-loss insurance, fixed and variable deferred annuities, single premium immediate annuities, and individual life insurance.

SWS Group (SWS)

SWS Group provides securities transaction processing and other related services and operates Southwest Securities, a full-service brokerage, investment banking, and asset management firm. Its primary business is delivering securities transaction-processing services to broker-dealers, including commercial banks. Transaction processing services include integrated trade execution, clearing, client account processing, and other customized services. The company also operates a savings bank in Texas.

SandRidge Energy (SD)

SandRidge is an oil and gas company focused on exploration and production, primarily in West Texas but also in East Texas and the Gulf Coast. SandRidge operates drilling rigs, provides oil field services, and has midstream facilities. As of Dec. 31, 2008, SandRidge had 2.1 trillion cubic feet of natural gas equivalent in reserves. Production is weighted 85% toward natural gas

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.

Barclays PLC (BCS)

Barclays is one of the largest banks in the United Kingdom and has operations around the world. Its businesses include U.K. banking, which serves retail and business customers in the U.K.; Barclays Capital, a debt-focused investment bank; international banking, which serves retail and business customers in Europe, Africa, and Asia; and Barclaycard, a large credit card issuer.Barclays has a 20% stake in BlackRock as a result of the 2009 sale of Barclays Global investors.

Alon USA Energy (ALJ)

Alon USA Energy refines and markets petroleum products and operates retail convenience stores. The company produces asphalts, solvents, various fuel types, general petroleum products, and rubber modified asphalt.

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.

RailAmerica (RA)

RailAmerica, Inc. is an owner and operator of short line and regional freight railroads in North America, operating a portfolio of 40 individual railroads with approximately 7,400 miles of track in 27 Unites States and three Canadian provinces. During the year ended December 31, 2009, its railroads transported over 800,000 carloads of freight for approximately 1,500 customers, hauling a range of products, such as farm and food products, lumber and forest products, paper and paper products, metals, chemicals and coal. The Company provides its freight services under a contract or similar arrangement with either the customer located on its rail line or the connecting Class I railroad. Contracts and arrangements vary in terms of duration, pricing and volume requirements.

Cowen Group (COWN)

Cowen Group, Inc. is an investment bank that provides research, sales and trading, and investment banking services. In November 2009, Ramius LLC and Cowen Group, Inc. completed a business combination, pursuant to which the new company retained the Cowen Group, Inc. name. Cowen Group, Inc. comprises two business units, Ramius, and Cowen and Company. The Ramius business unit will operate the combined company's alternative investment management business, and the Cowen and Company business unit will continue to run the Company's investment banking franchise, as well as its research and brokerage capabilities.

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 [email protected]

Rating: 2.6/5 (8 votes)


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