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Scott Wachsler
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I manage Wax Ink.net, a baseline equity research company comprised of individual investors not licensed or registered with any government agency. I have been all cap value investor and independent equity researcher for the past 30 years, and believe that patience is the key to successful... More
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  • Performance - Week Ending 08/15/2014

    Performance - Week Ending 08/15/2014
    The Wax Ink Portfolio was up 2.0% for the week. By comparison, the Dow was up 0.7%, the Nasdaq was up 2.2%, the S&P 500 was up 1.2%, the Russell 2000 was up 0.9%, and the Volatility Index, commonly known as the VIX, was down 16.6%.

    Year to date, the Wax Ink portfolio is down 2.4%, the Dow is up 0.5%, the Nasdaq is up 6.9%, the S&P 500 is up 5.8%, the Russell 2000 is down 1.9%, and the VIX is lower by 4.2%.

    The portfolio breakdown is 55% equities, 45% cash, and 0% bonds. There was no change to the total number of shares held. Consideration is currently being given to adding shares to the portfolio for selected issues.

    This week's winners were drug maker Cubist Pharmaceuticals(Nasdaq: CBST), up 4%, semiconductor maker International Rectifier Corporation (NYSE: IRF), up 4%, and infrastructure supply company LB Foster Company (Nasdaq: FSTR), up 3%.

    This week's punch bowl floaters were container maker Myers Industries (NYSE: MYE), down 0.1%, helicopter king Kaman Corporation (Nasdaq: KAMN), down 0.1%, and maker of all things company General Electric(NYSE: GE), down 0.1%.

    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 35% since being added to the portfolio, and municipal/industrial construction company Layne Christensen (Nasdaq: LAYN), down 48% since being added to the portfolio.

    Worksheets were updated this week for:
    Applied Industrial Technologies (NYSE: AIT), Deluxe Corporation (NYSE: DLX), Mentor Graphics Corporation (Nasdaq: MENT), and AGCO Corporation (Nasdaq: AGCO).

    Rounding out the week, Value Alerts were issued for Mentor Graphics Corporation.

    Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing. To access any worksheet in this post, click on the associated company name. Thanx.

    Wax

    Wax Ink is a baseline equity research company not licensed or registered with any government agency
    Copyright © 2014 Wax Ink

    Disclosure: The author is long CBST, IRF, FSTR, MYE, KAMN, GE, GFF, LAYN.

    Aug 16 8:48 AM | Link | Comment!
  • Deluxe Corporation Value Alert

    Texas (August 11, 2014) Wax Ink has issued a Negative Investment Interest opinion for Deluxe Corporation (NYE: DLX), based on a recent intrinsic value review that placed fair value for the company between $31-$39.

    A Negative Investment Interest opinion (sell) means that the current key performance indicators (KPIs) and associated financial metrics do not favor a position in this stock as an active investment at this time.

    The recent close of $56.76 is approximately 201% above a fair value buy target for the stock and approximately 46% above a fair value close target for the stock. The recent close is also 3% below analysts' twelve-month $58.50 median price target for the stock.

    The recent close represents a 34% increase in the one-year price of the stock, while year-over-year sales increased 5%, year-over-year earnings increased 10%, year-over-year debt decreased 1%, and year-over-year free cash flow increased 4%.

    The company paid a dividend of $1.01, a year-over-year increase of 0%.

    The stock currently has a trailing twelve-month PE Ratio of 14, and a PEG Ratio of 2.0 basis estimated forward earnings growth of 7%.

    In the past 52 weeks, share prices have moved between a high of $60.52 and a low of $38.12, placing current equilibrium at $54.54. With the recent close, the stock is trading 6% below the 52 week high, 33% above the 52 week low, and 4% above current equilibrium.

    The three-month average daily trading volume for this stock is approximately 0.258 million shares and the recent average daily trading volume is approximately 0.277 million shares. There are approximately 3.69 million short interest shares which places the days to cover at 17.5.

    Deluxe Corporation provides customized checks and forms, Web-site development and hosting, search engine marketing and optimization, and logo design services to small businesses and financial institutions.

    The company's listed competitors include Harland Clarke Corporation, MDC Partners, Inc., and R.R. Donnelley and Sons Company.

    Financial information contained in this alert, was taken from the company's most recent annual SEC filing for year ending December 31, 2013. Unless otherwise noted, all prices are per share.

    Disclosures
    At this time Wax Ink has no investment position in any company mentioned in this alert. This alert is for use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D.

    Wax Ink is a baseline equity research company not licensed or registered with any government agency focusing on long-term investment opportunities.

    Copyright © 2014 Wax Ink

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: DLX, Value Alerts
    Aug 12 5:19 AM | Link | Comment!
  • Performance - Week Ending 08/08/2014

    Performance - Week Ending 08/08/2014
    The Wax Ink Portfolio was up 1.9% for the week. By comparison, the Dow was up 0.4%, the Nasdaq was up 0.4%, the S&P 500 was up 0.3%, the Russell 2000 was up 1.5%, and the Volatility Index, commonly known as the VIX, was down 7.4%.

    Year to date, the Wax Ink portfolio is down 4.4%, the Dow is down 0.1%, the Nasdaq is up 4.7%, the S&P 500 is up 4.5%, the Russell 2000 is down 2.8%, and the VIX is higher by 14.9%.

    The portfolio breakdown is 55% equities, 45% cash, and 0% bonds. There was no change to the total number of shares held.

    This week's winners were infrastructure supplier LB Foster Company (Nasdaq: FSTR), up 9%, refiner HollyFrontier Corporation (NYSE: HFC), up 4%, and small tool maker LS Starrett Company (AMEX: SCX), up 4%.

    This week's punch bowl floaters were newly renamed trucking company ArcBest Corporation (Nasdaq: ARCB), down 1%, agricultural chemicals maker Agrium, Inc. (NYSE: AGU), down 0.1%, and drug maker Cubist Pharmaceuticals(Nasdaq: CBST), down 0.5%.

    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 37% since being added to the portfolio, and municipal/industrial construction company Layne Christensen (Nasdaq: LAYN), down 47% since being added to the portfolio.

    Worksheets were updated this week for:
    Energizer Holdings, Inc. (NYSE: ENR), Plantronics, Inc. (NYSE: PLT), Elbit Systems Ltd. (Nasdaq: ESLT), and Owens Corning (NYSE: OC).

    Rounding out the week, Value Alerts were issued for Plantronics, Inc..

    Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing. To access any worksheet in this post, click on the associated company name. Thanx.

    Wax

    Wax Ink is a baseline equity research company not licensed or registered with any government agency
    Copyright © 2014 Wax Ink

    Disclosure: The author is long FSTR, HFC, SCX, ARCB, AGU, CBST, GFF, LAYN.

    Aug 09 9:11 AM | Link | Comment!
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