If they keep raising the dividend the stock price will take care of itself. At these prices I wish they were simply paying all cash rather than issuing shares as part of the dividend. Too cheap to be issuing shares now, but I am one who is getting shares, so I suppose my % of the company is not dropping(its still going higher), I just wish it would grow by more.
The fact is the company is so greatly undervalued compared to the rest of the market on several metrics.
Look at this:
Cash+Receivables = $1.74 billion
Debt+Payables = $1.06 billion
Net "cash" = $680 million
If you throw in their current inventory you can add another $310 million, though inventory surely isn't the same as cash.
So for only $742 million and you are getting a company that has almost $1 billion in current net assets, that generates ~$150 million in free cash flow a year.