Actually it has been cheap for years and was even more so during the melt down in 2008 -2009. I picked up some shares back then. However, this stock helped put my 3 children through college in the 1990's. Bought the stock adjusted for splits between $1 - $2 per share and reinvested all the dividends till I sold. In the 90's the PE for this stock at times hit 40X earnings. When the commodity cycle is finally broken, this stock will take off again. I am hoping after the split that the stock goes down a bit more. Some people like to sell half their position after a stock split causing a temporary buying opportunity.
In a raging secular bull market stocks like CL and food stocks go through the roof because of cheap commodity prices. Plus at a market cap of $52 million, the company really isn't that large. This company does well in bad times but explodes to the upside during bull runs. We have continuosly owned at least some shares since 1971.
Well i sold this morning at 112.90 for a big loss, but it would have been twice as much if i had waited.
I bought LO but also sold for a loss. I bought T, hopefully i'll be up on Monday and then I'm buying
AWK to trade because it's low beta and doesn't drop too much. Good for day trading!!