TOR Minerals Int'l, Inc. (NASDAQ:TORM)

blesto (31.11) Submitted: 05/02/2011 15:01:36 : Start Price: $8.39 TORM Score: +105.57

Being cautiously optimistic. Small company in a tight market of paint pigments and such.
From Seeking Alpha article; http://seekingalpha.com/article/235652-tor-minerals-an-undervalued-industrial-with-significant-operating-leverage?source=TheMotleyFool
"TORM's U.S. Operation, located in Corpus Christi, Texas, manufactures HITOX (high grade titanium dioxide), BARTEX, HALTEX/OPTILOAD and TIOPREM. The facility is also the Global Headquarters for the company. The Asian Operation, located in Ipoh, Malaysia, manufactures synthetic rutile (SR), HITOX and TIOPREM. TORM's European Operation, located in Hattem, Netherlands, manufactures Alumina-based products."

The stock was consistently in the doldrums of less than $2 for years prior to 2010 then has shot up like a rocket peaking at $14
Has settled down now below $9 Their recent debt restructuring is having a positive impact.
The rising tide lifts all boats?
Well they do have a book value $13.53 Margins seem positive.
The current ratio is 2.70 looking for more than 1.50
but the quick ratio is 0.80 looling for more than 1.00
My calculations may be wrong but I came up with a Cash King Ratio of 6.5% looking for 10% or better.
The CCC- Cash Conversion Cycle is 212.23 days. Not good.

On a positive note 42% of Shares Held by All Insider and 5% Owners. They seem to have a vested interest in keeping this company afloat. Plenty more buying than selling.

Takeover candidate? Maybe not with the current insider shareholders seemingly liking the way things are and want to, I believe, grow globally.

A cyclical business. With an improving world economy(here's hoping) and warmer months coming, may see a rise in demand for their product.

Now if they only paid a dividend.