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National Presto Industries Inc. Message Board

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  • stockholderrevolt stockholderrevolt Apr 11, 2000 6:07 AM Flag

    don't faint, but...

    Your position in NPK is undoubtedly underwater.
    It hardly matters if your lastest purchase (as you
    claim) is in the money.

    Since you have very low
    expectations as an investor, you probably should consider
    bonds rather than stocks.

    A credit analyst
    would find NPK appealing because its operations will
    produce the necessary EBITDA to cover interest expenses
    far into the future. The company is prepared to
    support at least $100 million of debt.

    Meanwhile,
    equity analysts ignore this company because its growth
    prospects are minimal, at best. Rational stock buyers
    aren't interested in no-growth companies unless there is
    a compelling story to spark interest. A large stock
    buyback, going private, getting taken over, or a huge
    special dividend are events that might catch a lot of
    interest.

    If you have been a patient long-term
    investor in NPK, then you have received miserable returns
    in the biggest bull market in history. To defend the
    poor stock market performance of this company and
    ignore its prospects is to admit that your motives are
    emotional and not based on any rational investing
    principle.

 
NPK
79.55-0.27(-0.34%)Aug 28 4:02 PMEDT