Stockchase Opinions

Leslie Lundquist Tree Island Steel TSL-T PAST TOP PICK Jul 25, 2007

(A Top Pick July 13/06. Down 3%.) Ran into difficulties with the US housing market. Have restructured and think they have a pretty good plan. She is not into turnaround stories so has sold her holdings.
$8.410

Stock price when the opinion was issued

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COMMENT

Has watched this company for several years and kicks himself for not buying it. Debating whether to put it into his small business fund, but worries if it has run up too far. Enormously well-run. 2.25% dividend.

COMMENT

Technically this looks good. Has a nice support and is beginning to break out of something that it has had difficulty in breaking out through. Looks like it could get up through $4.

COMMENT

(Market Call Minute.) Doesn’t like it.

BUY

They will be a beneficiary of what is going to happen in the US. He thinks people used this stock as a source of cash. He sees improved housing starts in the US.

BUY

The largest product is nails so it is a play on the recovery in the US and in their housing market. He thinks we are early in that recovery. He likes the housing recovery story.

TOP PICK

He might be a bit early with this. This is a former income trust. Commodity prices (steel) were hurting their margins: they couldn’t raise prices fast enough. They had a very good recent quarter. Talk now is optimistic. He likes turnarounds like this. It’s not very liquid. Don’t chase it. Put in a bid and let sellers come to it. This is a cyclical business, it was a $6 not long ago. (Analysts’ price target is 3.75$)


HOLD

Battered by steel tariffs. Hold it if you still have it, because tariffs will get resolved.

HOLD
They make steel wire for fencing and nails. Currency weakness hurt them, but he feels they could be ripe for a turn around. He would continue to hold onto it. He will look into owing it again.
PAST TOP PICK
(A Top Pick May 08/18, Down 36%) They were doing things to turn things around. They made net income last year and then Trump tariffs killed them. But they said they are going to turn around the tariffs. He is going to look and see if it is time to buy back in.