Seeking Alpha

Conrad Industries (OTC:CNRD), a barge/ferry boat builder with 4 shipyards in Southern Louisiana and Texas, is a small cap stock that is simply ridiculously cheap. Because it is 47% owned by the Conrad family, CNRD has limited float and no sellside research coverage, but piles of cash and hard assets on the balance sheet as well as a business model that throws off scads of free cash flow.

Conrad has not lost money since 2004, and given its high FCF characteristics, has accumulated a hefty $11 in cash per share on the balance sheet (including a soon to be paid BP settlement of a couple bucks a share). All in, almost half of Conrad's market cap is in...

Only subscribers can access this article, which is part of the PRO research library covering 3,741 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: