Just how well Material Sciences (MASC)
has been doing depends a lot on where you start looking. The stock is
up more than 18 times its near-death lows in March of 2009, but the
performance is not nearly so impressive over comparisons that stretch
back six years or more. Most recently, the stock seems to have stalled
out in the face of weak sales growth, minimal sell-side support, and
slower uptake of its products than bulls had hoped.
Although I'm
not a table-pounding bull on Material Sciences today, it's hard not to
want to take a closer look at a stock where more than one-third of the
share price can be netted out against cash on the balance sheet, and
where despite the challenges in the business the company is still
posting positive free cash flow and returns on capital. Should
management find the keys for unlocking broader acceptance of its
acoustical composites and stainless steel substitutes like ElectroBrite,
ViviColor, and Deco Steel, these shares could do well indeed.
Please continue here:
If Steel Prices Improve, Material Sciences Should Get A Better Multiple
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