Usually when stocks hit a 52 week low, there is usually a reason for the price to be at that level. However, occasionally you may be able to find gems in the junk. Jim Cramer said that you should only consider a stock that hits a 52 week low if there is significant insider buying and a favorable balance sheet. Here is a list of New York Stock Exchange stocks, all of which are recently trading at their lows that may be worth taking a closer look at.
Western Refining Inc. (WNR) is an independent crude oil refiner and marketer of oil products which just closed at a 52 week low. The stock has had 17,485 shares purchased by insiders, and no insider sellers in the last 6 months. Also, the company has a 1.8 current ratio. It has a PE of 3.3, a PEG of 1.23, and a yield of 2%.
RLI Corp. (RLI) is a property and casualty insurance company. The stock has had 11 purchases and one sale by insiders during the last six months. The company has a 0.165 debt to equity ratio. RLI has a PE of 7, a PEG of 0.99, and a yield of 1.8%.
Reynolds American Inc. (RAI) is a cigarette manufacturer which has the CAMEL, KOOL, PALL MALL, DORAL, and CAPRI brands. The company has a .6 debt to equity ratio and a 1.28 current ratio. $782,000 of stock has been purchased by insiders during the last couple months. The stock has a PE of 13, a PEG of 1.98, and a yield of 5.9%.
Northrop Grumman Corp. (NOC), the aerospace and electronics company, is another stock that hit a 12 month low. The company has had over $700,000 indirect non-open market insider transactions since the beginning of March. They have a 0.225 debt to equity ratio and a current ratio of 1.05. The stock has a PE of 14, a PEG of 0.8, and a yield of 2.1%.
Leggett & Platt Inc. (LEG) is a designer and manufacturer of engineered components. It has had numerous insider purchases and direct acquisitions during the last few months amounting to over $1 million. The stock is selling at close to its 12.64 book value. The company has a 2.3 current ratio. The PE is 12, the PEG is 1.91, with a 7% yield.
Lee Enterprises Inc. (LEE) is a publisher of daily and weekly newsletters. The stock is selling for way below its book value of 23.52. There has been insider purchasing amounting to $135,000 recently. The stock has a PE of 6, a 2.65 PEG, and an 8.1% yield.
GLG Partners, Inc. (GLG), the subject of recent negative news, is a hedge fund sponsor and money manager. One officer of the company paid about $500,000 for 38,670 shares in March. They have a 2.9 current ratio. The stock has a PE of 39, and a 0.98 PEG. The yield is 1%.
Boyd Gaming Corp. (BYD) owns and operates 15 casino entertainment facilities located in various states. The stock is selling close to its book value of 15.78. In the last couple month, insiders have purchased about $550,000 of stock. The stock has a PE of 5, a PEG of 0.6, and a yield of 3.5%.
These stocks can be tracked at Stockpickr.com.
Author does not own any of the above.
By Fred Fuld at Stockerblog.com