H&T Group (LSE:HAT)

I was back in my hometown of Sheffield last week and one thing that struck me was how the high street has changed. Rows of empty shops, new small businesses everywhere and lots of pawn shops. It made me think of a post on Expecting Value on H&T Group and so I decided to look at the business myself.

I’m not going into detail as EV already did a good job of writing up the company, but this is a summary of my thoughts on it. I like the business model of pawn-broking, and recently purchased a second hand games console from one so know they can offer good value for money even competing with the likes of Ebay and Amazon.

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CF Industries (NYSE:CF)

CF Industries is one of the largest manufacturers and distributors of nitrogen and phosphate fertilizer products in the world and I first mentioned it in my ‘Fertiliser Company Comparison’ article. It is currently selling at a P/E ratio of just 6.8 and generates all of its profits as free cash flow. Daniel Loeb’s Third Point has already announced it holds a position in the stock as it views it as undervalued.

Its core market and distribution facilities are concentrated in the midwestern United States (the so called corn belt) and other major agricultural areas of the U.S. and Canada. It also exports nitrogen fertilizer products from Louisiana manufacturing facilities and phosphate fertilizer products from Florida phosphate operations through its Tampa port facility. It mainly sells its products to industrial customers. It also owns a 75.3% interest in Terra Nitrogen Company (TNCLP).

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