SUTR Looks Cheap.
Sutor Technologies is a steel company in India selling galvanized, pickled, and cold-rolled steel. From just the description, I am led to believe that it may not be a fully integrated steel company. A fully integrated company would probably sell hot-rolled steel and slabs as well. The closing price as of 9/30/09 was $3.16. Financials are available starting from the 12 months ended 2007, so I'll only be going back 3 years for the financials. Keep in mind the fiscal year for them ends in June, so the 2009 numbers are TTM as well.
Ratios from CAPS:
After the earnings release on 9/25, the price tanked from 9/24's closing of $3.91 to $3.21 on 9/25. It has stayed depressed, and could fall further if the market tanks. I see the sudden drop as an irrational reaction to the EPS of $0.03 vs. estimates of $0.10. I don't think the company's value dropped 18% overnight just because they missed EPS estimates. It is in the best interest of the value investor to look for these temporary overreactions to missed estimates, in my opinion.
I personally bought some shares at $3.33 on 9/25 when it first tanked, and I will consider buying more in a bit if it stays depressed long enough for me to get more money into the market. A steel company that has managed to make money the last 5 quarters straight is very rare. SUTR also looks attractively valued from a value standpoint, with excellent ratios.
To add to everything else, this company is a net current asset value bargain, for you Graham fans. Current assets actually aren't made up mostly of inventory, which is another plus. It does look like there's a chunk of short-term debt or something due from their last quarterly filing, but I'm sure they can handle it.
I didn't research past the financial statements. Further due diligence is recommended, but I'd say this company is definitely worth the look.