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Performance - Week Ending 04/03/2015

|Includes: American Woodmark Corporation (AMWD), ARCB, CE, CRR, DD, GFF, GRA, GT, HFC, KWR, LAYN, MDR, MYE, NTR, WOR

The Wax Ink Portfolio was up 2.0% for the week.

By comparison, the Dow was up 0.3%, the Nasdaq was down 0.1%, the S&P 500 was up 0.3%, the Russell 2000 was up 1.2%, and the Volatility Index, commonly known as the VIX, was down 2.7%.

Year to date, the Wax Ink portfolio is down 2.4%, the Dow is down 0.3%, the Nasdaq is up 3.2%, the S&P 500 is up 0.4%, the Russell 2000 is up 4.2%, and the VIX is higher by 6.9%.

The portfolio breakdown was altered this week as I closed my position in Myers Industries (NYSE: MYE). While I did note a couple of weeks ago that the company has some accounting issues with its Brazilian operations, that news did not enter in to my decision to close my position. I had owned the stock for 12 years, and it was just time to replace it with one that has greater appreciation potential.

Weekly Winners
This week's portfolio winners were offshore contractor McDermott International (NYSE: MDR), up 15%, cylinder maker Worthington Industries (NYSE: WOR), up 4%, and tire king Goodyear Tire and Rubber Company (NYSE: GT), up 2%.

Weekly Losers
This week's portfolio losers were refiner HollyFrontier Corporation (NYSE: HFC), down 4%, trucker ArcBest Corporation (NASDAQ: ARCB), down 2%, and ag chemicals company Agrium, Inc. (NYSE: AGU), down 1%.

Portfolio Duds
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 3% since being added to the portfolio, and municipal/industrial construction company Layne Christensen (NASDAQ: LAYN), down 67% since being added to the portfolio.

Worksheets
Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets updated last week may be downloaded by clicking on the links (company name) below.

American Woodmark Corporation (NASDAQ: AMWD) - FYE 04/2014

CARBO Ceramics, Inc. (NYSE: CRR) - FYE 12/2014

Celanese Corporation (NYSE: CE) - FYE 12/2014

E. I. du Pont de Nemours and Company (NYSE: DD) - FYE 12/2014

Quaker Chemical Corporation (NYSE: KWR) - FYE 12/2014

WR Grace and Company (NYSE: GRA) - FYE 12/2014

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.

Reasonable Value Estimates
Reasonable value estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance and investing philosophy.

Reasonable value estimates were established or revised this week for American Woodmark Corporation at $31-$39, CARBO Ceramics at $40-$47, Celanese Corporation at $32-$41, du Pont at $50-$54, Quaker Chemicalat $59-$64, and WR Grace at $38-$40.

Have a great week.

Wax

Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2015 Wax Ink

Disclosure: The author is long GRA,MYE,MDR,WOR,GT,HFC,ARCB,AGU,GFF,LAYN.