Companies leveraged to metalworking have seen pretty mixed
performance in both their reported financials and stock performance this
year. Hardinge (NASDAQ:HDNG) and Kennametal (NYSE:KMT) are both down double-digits on a year-to-date basis (about 22% and 15%, respectively), while MSC Industrial (NYSE:MSM) (a distributor, not a manufacturer) is up more than 12% and Hurco (NASDAQ:HURC) is up close to 50%.
I
continue to be bullish on Hurco. The company's announcement in mid-July
of a patent on combination 3D-printing and CNC machining certainly got
some attention, but the basic underlying business at Hurco is
progressing well and I believe that is the more important factor. I do
have some concerns about the sustainability of order growth and gross
margins, but these shares continue to look undervalued to me.
Read the full article here:
Hurco Delivers Once Again
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