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Stock With Momentum: Wang-Zheng
by Cals Tue 17 Nov 2015, 17:55
Stock With Momentum: Wang-Zheng
By Asia Analytica / The Edge Financial Daily | November 17, 2015 : 10:19 AM MYTThis article first appeared in The Edge Financial Daily, on November 17, 2015.
[size=16]Wang-Zheng Bhd ([You must be registered and logged in to see this image.] Valuation: 2.60, Fundamental: 2.10) (-ve)
WANG-ZHENG (Fundamental: 2.1/3, Valuation: 2.6/3) triggered our momentum algorithm for the second time this month. The rarely traded stock has risen by 71.6% over the past three months, closing at a one-year high of 75.5 sen yesterday.
The Selangor-based company manufactures and distributes processed paper and fibre-based hygienic products (such as diapers and sanitary protection) under its own brands as well as original equipment manufacturer (OEM) brands. In 2014, Wang-Zheng derived 83.7% of its sales from the domestic market with the balance from other Asian countries.
For 1H2015, revenue increased 17.2% y-o-y to RM133.4 million while net profit surged 146.4% to RM9.2 million, mainly due to forex gains and higher sales of paper products. The company has a solid balance sheet with net cash of RM23.0 million.
The stock currently trades at a trailing 12-month P/E of 9.5 times and 31% below book value. Dividends totalled 2.5 sen per share for 2014, giving a yield of 3.3%.
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