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Specialty Chemicals

Cabot Corporation
I like what the company does, that they are a picks and shovels company. I don’t like that the company has a 49% interest ($15M) in a carbon black affiliate in Venezuela and I don’t like that the company has exposure in connection with a safety respiratory products business that a subsidiary company once owned, and I wish there were additional information regarding the shutdown of the company’s carbon black facilities in Merak, Indonesia. My wonder is around exposure to future litigation by the Indonesian government. These things aside, FY 2017 was a good year for the company with y-o-y earnings growth of 61%, y-o-y debt growth of less than 1%, and y-o-y free cash flow growth of 20%.

Cabot Corporation (NYSE: CBT) – FYE 09/2017 – FAIRLY VALUED – The stock is currently trading at levels in line with my $70 fair value estimate – Please See Linked Worksheet


Hawkins, Inc. (Nasdaq: HWKN) – FYE 03/2017


Kraton Performance Polymers, Inc. (NYSE: KRA) – FYE 12/2016


Oil-Dri Corporation of America (NYSE: ODC) – FYE 07/2017 – Hold – The current market price reasonably reflects the current P/E, growth potential and balance sheet metrics – SEE RESEARCH NOTES


Olin Corporation (NYSE: OLN) – FYE 12/2016


Quaker Chemical Corporation (NYSE: KWR) – FYE 12/2016


RPM International, Inc. (NYSE: RPM) – FYE 05/2017


Sensient Technologies Corporation (NYSE: SXT) – FYE 12/2016


The Sherwin-Williams Company, Inc. (NYSE: SHW) – FYE 12/2016


WD-40 Company (Nasdaq: WDFC) – FYE 08/2017 – Sell – The current market price is too high basis the current P/E, growth potential and balance sheet metrics – SEE RESEARCH NOTES

W.R. Grace and Company, Inc. (NYSE: GRA) – FYE 12/2017 OVER VALUED The stock is currently trading at levels above my most recent $1 sell target. Please See Linked PDF Worksheet
Posted on 04/11/18

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