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BLT
Blount International Inc - NYSE

7/10/2014, 12:20 AM ET
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  • Blount International Is Attractive As Pullback Overdiscounts Fading Negative Catalysts
      John Leonard Sat, May. 10

    Summary

    • Blount International is down almost 25% YTD due to the lowered 2013 guidance and the discovery of an accounting problem.
    • However, the discount to the peer group remains even after management provided a bullish outlook for 2014 while the accounting problem is in the process of being remediated.
    • As a result, the stock trades at an attractive valuation that implies little to no value for its dominant market position, strong recurring cash flow or multiple growth opportunities.
    • The significant increase in free cash flow driven by improved working capital management and operating efficiencies should provide funding for continued deleveraging and the initiation of a dividend/buyback.
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Company Description

Blount International Inc designs, manufactures, and markets equipment, replacement and component parts, and accessories for professionals and consumers in select end-markets under its proprietary brand names.