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National Presto Industries Inc. Message Board

  • thebear218 thebear218 Feb 10, 2000 12:46 PM Flag

    FXC newsletter TCBY takeover today.

    Frank Curzio's FXC newsletter recommended NPK.
    His newsletter rec. TCBY [TBY $3.50] the subject of a
    takeover at $6.00 today. Other recommendations. MSFT $103,
    SFA $97 CA $71, CSPLF $6.75, MPET $ 1.13 & TPL $39.
    He REC few stocks.

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    • If you are a patient investor, I believe you will
      be rewarded if you acquire a position in NPK at the
      current price level. It is possible, however, for the
      stock to trade below the value of the cash on its
      balance sheet. So don't lose faith if the stock continues
      to fall after going ex-dividend.

      This happens
      all the time with small banks and thrifts. Although
      they are not holding cash, the existence of the
      secondary market for mortgages makes their loan portfolios
      liquid and easy to value. Due to the sell-off in the
      thrift sector, many now sell below book value.

      They are on sale. Buy a thrift and get a dollar's
      worth of assets for about ninety cents! And the pace of
      consolidation in the thrift business shows that managements and
      investors understand the future of this industry. Too bad
      the same can't be said for NPK!

      I noticed
      earlier today that Salton was up $5 a share due to
      expected sales improvements tied to George Forman's pitch
      for that company's grill.

      This company is
      being run as though it were a private company, rather
      than a publicly owned enterprise. Because of the
      abusive stockholder voting rules in place at NPK, this
      company can be run without regard for the majority of
      shareholders. If the Cohens want a private company, they should
      employ the excess capital on the balance sheet to buy in
      all the stock. Such a move would make everyone happy!

    • I stand corrected. You are indeed right. Still,
      NPK trades at EV of ~2.29. It's hard to see how this
      stock could trade below cash with an octegenerian
      calling the shots. Seems like a good risk to me
      particularly with so many stocks breaking down.


    • Rational, Well Researched, and Data

      Thanks for your comment.

      And I mistakenly thought
      you were just one of those loud mindless lunatics
      that likes to bash current management, whoever they
      are, and what ever they do.

    • When does this thing go X-dividend?

88.56-1.12(-1.25%)Nov 25 4:02 PMEST