Looked at this about a year ago. The company has done well and is not ridiculously expensive. A great, long term industrial. He passed on this because they have an old asbestos liability. Asbestos liabilities have caused serious legal problems leading to massive damage suits in the US, which has killed a couple of companies. With that kind of risk, he passed on this.
Diversified manufacturer. Make everything from fluid control systems to brake systems and vending machines. Has a great set of metrics. 8% free cash flow yield. Good dividend. Trading at a little less than 10X earnings with good growth prospects.
(Top Pick Oct 24/12, Up 48.33%)Fluid management (Toilets). Vending machines, braking systems for aircraft. Well diversified and well managed. Margin expansion has been one of their main benefits. Still represent good value.
Looked at this about a year ago. The company has done well and is not ridiculously expensive. A great, long term industrial. He passed on this because they have an old asbestos liability. Asbestos liabilities have caused serious legal problems leading to massive damage suits in the US, which has killed a couple of companies. With that kind of risk, he passed on this.