12/23/2015

Value Filters to Protect Us from Ourselves

 
This post inspired by the work at super value blogger Vardebyran ,  "Intuition vs. statistics on the stock market ". "Intuition vs. statistics on the stock market" explains the benefits of using models versus intuition with examples from guru investors. Those investing thought leaders include Joel Greenblatt, Jim Simmons, , Tobias Carlisle, Michael Mauboussin, Benjamin Graham, Peter Cundill and others.

If you don't read Swedish open blog with Google Chrome right mouse click and it translates to English or other languages.

This quick simple filter identified stocks increasing GM%,reducing LTD, stable or reducing outstanding share count, increasing equity value and revenue, negative 52 week stock returns. Included are only stocks held by proven micro cap value institutions.

FSI,ARTW,DVLY,FSI,CCUR,ALOT,MNI,FVE,GHM,MPX,HWKN,EXAC,KAI,HWAY

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Art's-Way Manufacturing Co. Inc. (ARTW):"Art's-Way Manufacturing Co Inc is a manufacturer of agricultural equipment & machinery. The Company operates into four operating segments: agricultural products, pressurized vessels, modular buildings and tools."Morningstar

Near 10 year low for P/S, P/B and per share price.

Owned Properties: Executive offices, production and warehousing facilities are in Armstrong, Iowa. These facilities constructed after 1965 remain in fair condition. The facilities in Armstrong contain 249,000 square feet of usable space. In addition, 127 acres land west of Armstrong is owned. Excess land of 88 acres leased to third party for farming. This excess land sold in December of 2012. An office, production and warehousing facility for Agricultural Products located in West Union, Iowa on 29 acres and 190,000 square feet of usable space purchased in fiscal 2010. Assets of UHC in May 2012, the land and building used for manufacturing of the products sold by UHC in Ames Iowa were purchased. The building contains 41,640 square feet of usable space and is in good condition. The purchased land is 10 acres and is used in their agricultural Products segment. Certain assets of Ohio Metal in September 2013were purchased, land and building used for manufacturing of the products sold by Ohio Metal located in Canton, Ohio.  The building contains 39,000 square feet of usable space and is in good condition. The purchased land is 4.50 acres and used in there Tools segment.
























Deer Valley Corporation (DVLY):"Deer Valley Corp through its wholly owned subsidiaries designs and manufactures factory built homes. It also provides dealer inventory-secured financing for its factory built homes & offers bridge financing to an established mortgage originator."Morningstar

Expanding GM% and operating margins from 2011

Properties; "DVH's principal manufacturing plant and company offices consist of a manufacturing plant with 107,511 square feet, a frame shop with 10,800 square feet, material shed of 23,172 square feet and offices with 11,250 square feet of space. DVH owns the buildings and 25.5 acres underlying these facilities. In addition, DVH owns an idled manufacturing facility with a 65,992 square foot manufacturing plant located on approximately 13 acres of land in Sulligent, Alabama (the "Sulligent Property"). The Sulligent Property was idled in September 2008."























Flexible Solutions International Inc. (FSI):"Flexible Solutions International Inc together with its subsidiaries develops, manufactures and markets specialty chemicals which slow the evaporation of water"Morningstar

Financially strong with a safe z score and











10K; "own a 56,780 sq. ft. facility in Peru, Illinois which is used to manufacture our TPA line of products as well as a building and 3.3 acres of land in Taber, Alberta, Canada.  Our building in Taber has been renovated and can be used for various industrial purposes.  In February 2014, we decided to stop aspartic acid production at the Taber facility. The future use of the facility has not been determined."

















Concurrent Computer Corporation (CCUR):"Concurrent Computer Corp is a provider of software, hardware and professional services for the multi-screen video market and the high-performance, real-time market."Morningstar





















Astro-Med, Inc. (ALOT): "Astro-Med Inc designs, develops, manufactures and distributes specialty printers and data acquisition and analysis systems that acquire, store, analyze and present data in multiple formats."Morningstar

Real estate on book below fair market value. Massachusetts 36,000 square foot manufacturing facility held for sale.




















The McClatchy Company (MNI):"McClatchy Co is a news, advertising and information provider, offering an array of print and digital products in each of the markets it serves."Morningstar

Corporate headquarters are located at Sacramento, California. December 28, 2014, newspaper production facilities are in 16 markets in 12 states. Facilities vary in size and in total occupy about 5.9  million square feet. Approximately 2.0 million of the total square footage is leased from others, while they own the properties for the remaining square footage.



















Five Star Quality Care Inc. (FVE):"Five Star Quality Care Inc a healthcare and senior living provider. It is engaged in operating senior living communities, including independent living or congregate care communities, assisted living communities and skilled nursing facilities."Morningstar













Properties from 10K; "...own or lease 181 independent and assisted living communities. Own 31 communities. These communities have 20,279 living units and are located in 26 states . "















Graham Corporation (GHM) :"Graham Corp designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. It also designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems."Morningstar

Properties: Corporate headquarters is a 45,000 square foot building located at Batavia, New York. Manufacturing facilities, also located in Batavia, consist of approximately 33 acres and contain about 260,000 square feet in several buildings, including 206,000 square feet in manufacturing facilities, 48,000 square feet for warehousing and a 6,000 square-foot building for product research and development.
























Marine Products Corp. (MPX):"Marine Products Corp manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. Its product offerings include Chaparral sterndrive pleasure boats and Robalo outboard sport fishing boats."Morningstar

High F Score, P/B near 3 year low, P/S near 5 year low.
























Hawkins Inc. (HWKN):"Hawkins Inc distributes bulk chemicals and blends, manufactures and distributes specialty chemicals for its customers in various industries." Morningstar  


P/B and P/S near 5 year low
Annual 5 year growth rates are revenue 5.80%, book value 9.10%.The 10 year growth rates for Revenue 11.90%(revenue), 11.40%(EBIT), 11.50%(FCF),  and 11.30%(book value).






















Exactech Inc. (EXAC):"Exactech Inc develops, manufactures, markets, distributes and sells orthopaedic implant devices, related surgical instrumentation and biologic services to hospitals and physicians in the United States and internationally."Morningstar



















K


adant Inc. (KAI) :"Kadant Inc develops, manufactures, and markets equipment and products for the papermaking, paper recycling and other process industries. It also designs and manufactures stranders and related equipment used in the production of oriented strand board."Morningstar
























Healthways Inc. (HWAY):"Healthways Inc provides comprehensive total population health management solutions that are designed to help people improve their well-being, thereby improving their health and productivity and reducing their health-related costs." Morningstar