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We love pigments and coatings

The Beautiful Market In the words of Jerry Maguire “we work in a business of tough competitors” and that makes it hard for investors to find sustainable returns on invested capital (ROIC). Companies like Amazon keep everyone on edge. A few years ago I was just pondering products that are important and can be differentiated…

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SiteOne Landscape Supply Finds Fertile Ground

Investors have found a lot to like with SiteOne Landscape Supply (NYSE: SITE). The company priced their IPO last night at $21, inside their proposed pricing range of $20-22.  To the delight of investors the SITE story is simple and their business isn’t rocket science. SiteOne provides wholesale landscape supplies and services to residential and…

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Mobileye MBLY IPO Transcript All About Smart Cars

Mobileye (MBLY) had a smashing IPO as investors embraced the story and the stock as a leading provider of the next generation of cars that can drive themselves. The next few years are more about increased safety rather than real self-driving vehicles but the adoption ramp is already steep.  Here are some highlights from the…

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ExOne 3D Printing Machines & Production Services

ExOne (XONE) is less mature than market leaders Three D Systems (DDD) and Stratasys (SSYS) but they have been developing their printers and services since 2005. They entered their commercialization phase in 2012 as their machines installed grew from 4 to 14 YoY. At the time of the IPO the installed base of XONE machines…

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The Germans Are Coming to 3D Printing

This week we expect voxeljet AG (VJET) to price above the range and trade up from there. 3D printing stocks have been red hot and there is simply more demand than supply right now for new names. As shown in the table included below market leaders 3D Systems (DDD) and Stratasys (SSYS) are up 106%…

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OCI Resources OCIR Roadshow

Maker of soda ash, yield play with a target of 10% based on a pricing at the midpoint of the $19 to $21 filing range. They mine and refine naturally soda ash out of Wyoming. Soda ash used heavily in glass and other applications. Leads are Citi and Goldman with Barclays and Credit Suisse as…

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The Crafty Silver Spring IPO

TLDR – A reasonable value for Silver Spring (SSNI) is $21/share which compares well to the $17 mid-point of the filing range. It’s a high quality company with the deal being led by Goldman. SSNI has done a crafty job positioning their story to avoid having to show that their revenues were flat in 2012…

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For Berry Plastics it’s only a question of price

Berry Plastics (BERY) reminds me of Aptar Group which was the first IPO roadshow presentation I ever attended back in 1993. I’ll never forget that one because it was my first but also because I was sitting next to investing legend Mario Gabelli. I can tell you that Mario did lots of work on these…

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A Peek at GM

GM is promoting their 1) lower risk profile, 2)global growth opportunities and 3)improved business model.  The message can be simplified along the lines “we are going to be a good car company.”  The longer version includes fewer brands, greater efficiency, better cars, an improved brand with higher prices and more durable  residual values. A few…

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