Screen Criteria:
All of these stocks have seen net inflows from institutional investors (13-F filings). These companies have also seen inventory levels rise faster than revenue during the most recent quarter.
Average Weekly Returns:
Average 1-Week Return of All Stocks Mentioned Below: 3.85%
Average 1-Month Return of All Stocks Mentioned Below: 3.89%
Analysis of List Alpha:
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Week): 11 out of 21 (52.38%)
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Month): 8 out of 21 (38.10%)
Chart: Distribution of 1-Week Returns For All Stocks Mentioned Below
Chart: Distribution of 1-Month Returns For All Stocks Mentioned Below
1. Molycorp, Inc. (MCP): Focuses on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. Net institutional shares bought during the most recent quarter at 10.8M shares (11.86% of float at 91.05M shares). Size of inventory grew by 193.88% during the most recent quarter ($281.13M vs. $95.66M y/y), while revenue only increased by 48.93% ($205.6M vs. $138.05M y/y). Inventory, as a percentage of current assets, increased from 12.83% to 30.45% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
2. First Solar, Inc. (FSLR): First Solar, Inc. manufactures and sells solar modules using a thin-film semiconductor technology. Net institutional shares bought during the most recent quarter at 4.7M shares (7.80% of float at 60.22M shares). Size of inventory grew by 39.15% during the most recent quarter ($662.58M vs. $476.17M y/y), while revenue only increased by -16.57% ($839.15M vs. $1,005.79M y/y). Inventory, as a percentage of current assets, increased from 19.59% to 24.45% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
3. Tesla Motors, Inc. (TSLA): Designs, develops, manufactures, and sells electric vehicles and advanced electric vehicle powertrain components. Net institutional shares bought during the most recent quarter at 9.8M shares (12.90% of float at 75.97M shares). Size of inventory grew by 223.14% during the most recent quarter ($159.05M vs. $49.22M y/y), while revenue only increased by -13.13% ($50.1M vs. $57.67M y/y). Inventory, as a percentage of current assets, increased from 11.94% to 55.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
4. Twin Disc Inc. (TWIN): Designs, manufactures, and sells marine and heavy duty off-highway power transmission equipment. Net institutional shares bought during the most recent quarter at 459.8K shares (5.44% of float at 8.45M shares). Size of inventory grew by 7.46% during the most recent quarter ($112.81M vs. $104.98M y/y), while revenue only increased by -15.42% ($68.79M vs. $81.33M y/y). Inventory, as a percentage of current assets, increased from 51.58% to 57.46% during the most recent quarter (time interval comparison 3 months ending 2012-09-28 to 3 months ending 2011-09-30).
5. Freescale Semiconductor Holdings I, Ltd. (FSL): Engages in processing semiconductors and solutions for automotive, networking, industrial, and consumer markets worldwide. Net institutional shares bought during the most recent quarter at 5.8M shares (11.37% of float at 51.02M shares). Size of inventory grew by 1.38% during the most recent quarter ($810M vs. $799M y/y), while revenue only increased by -11.65% ($1,009M vs. $1,142M y/y). Inventory, as a percentage of current assets, increased from 34.35% to 36.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-28 to 3 months ending 2011-09-30).
6. Polypore International Inc. (PPO): Develops, manufactures, and markets microporous membranes used in separation and filtration processes. Net institutional shares bought during the most recent quarter at 2.3M shares (5.37% of float at 42.85M shares). Size of inventory grew by 33.64% during the most recent quarter ($118.35M vs. $88.56M y/y), while revenue only increased by -6.55% ($177.62M vs. $190.06M y/y). Inventory, as a percentage of current assets, increased from 26.17% to 36.4% during the most recent quarter (time interval comparison 13 weeks ending 2012-09-29 to 13 weeks ending 2011-10-01).
7. Life Time Fitness Inc. (LTM): Designs, builds, and operates sports and athletic, professional fitness, and family recreation and spa centers in the United States. Net institutional shares bought during the most recent quarter at 2.4M shares (6.32% of float at 37.97M shares). Size of inventory grew by 32.41% during the most recent quarter ($27.17M vs. $20.52M y/y), while revenue only increased by 11.10% ($294.87M vs. $265.42M y/y). Inventory, as a percentage of current assets, increased from 27.16% to 30.48% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
8. Walter Energy, Inc. (WLT): Produces and exports metallurgical coal for the steel industry primarily in the United States. Net institutional shares bought during the most recent quarter at 3.8M shares (6.11% of float at 62.19M shares). Size of inventory grew by 65.18% during the most recent quarter ($374.24M vs. $226.57M y/y), while revenue only increased by -11.15% ($611.97M vs. $688.75M y/y). Inventory, as a percentage of current assets, increased from 27.64% to 43.19% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
9. Carpenter Technology Corp. (CRS): Engages in the manufacturing, fabrication, and distribution of specialty metals. Net institutional shares bought during the most recent quarter at 3.1M shares (6.81% of float at 45.54M shares). Size of inventory grew by 72.57% during the most recent quarter ($722.2M vs. $418.5M y/y), while revenue only increased by 31.59% ($544.9M vs. $414.1M y/y). Inventory, as a percentage of current assets, increased from 39.89% to 60.59% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
10. Peabody Energy Corp. (BTU): Engages in the exploration, mining, and production of coal. Net institutional shares bought during the most recent quarter at 23.1M shares (8.64% of float at 267.26M shares). Size of inventory grew by 57.69% during the most recent quarter ($554.9M vs. $351.9M y/y), while revenue only increased by 3.95% ($2,058.8M vs. $1,980.6M y/y). Inventory, as a percentage of current assets, increased from 11.71% to 20.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
11. Owens Corning (OC): Provides composite and building materials systems worldwide. Net institutional shares bought during the most recent quarter at 5.3M shares (5.73% of float at 92.44M shares). Size of inventory grew by 6.30% during the most recent quarter ($793M vs. $746M y/y), while revenue only increased by -12.0% ($1,276M vs. $1,450M y/y). Inventory, as a percentage of current assets, increased from 41.61% to 44.83% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
12. Derma Sciences Inc. (DSCI): Engages in manufacturing, marketing, and selling wound care, wound closure and specialty securement devices, and skin care products. Net institutional shares bought during the most recent quarter at 319.3K shares (7.68% of float at 4.16M shares). Size of inventory grew by 33.33% during the most recent quarter ($14.48M vs. $10.86M y/y), while revenue only increased by 23.97% ($19.65M vs. $15.85M y/y). Inventory, as a percentage of current assets, increased from 26.42% to 37.11% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
13. Beacon Roofing Supply Inc. (BECN): Distributes residential and non-residential roofing materials in the United States and Canada. Net institutional shares bought during the most recent quarter at 2.6M shares (5.51% of float at 47.20M shares). Size of inventory grew by 10.01% during the most recent quarter ($222.74M vs. $202.47M y/y), while revenue only increased by 3.92% ($598.12M vs. $575.56M y/y). Inventory, as a percentage of current assets, increased from 29.82% to 35.31% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
14. LeapFrog Enterprises Inc. (LF): Provides technology-based learning platforms worldwide. Net institutional shares bought during the most recent quarter at 6.6M shares (12.15% of float at 54.32M shares). Size of inventory grew by 63.61% during the most recent quarter ($115.08M vs. $70.34M y/y), while revenue only increased by 28.01% ($193.07M vs. $150.83M y/y). Inventory, as a percentage of current assets, increased from 29.07% to 33.34% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
15. Lawson Products Inc. (LAWS): Distributes products and services to the industrial, commercial, institutional, and governmental maintenance, repair, and operations marketplace in the United States and Canada. Net institutional shares bought during the most recent quarter at 255.3K shares (6.08% of float at 4.20M shares). Size of inventory grew by 23.19% during the most recent quarter ($54.6M vs. $44.32M y/y), while revenue only increased by -4.50% ($71.98M vs. $75.37M y/y). Inventory, as a percentage of current assets, increased from 38.45% to 54.81% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
16. Vera Bradley, Inc. (VRA): Engages in the design, production, marketing, and retail of functional accessories for women under the
All of these stocks have seen net inflows from institutional investors (13-F filings). These companies have also seen inventory levels rise faster than revenue during the most recent quarter.
Average Weekly Returns:
Average 1-Week Return of All Stocks Mentioned Below: 3.85%
Average 1-Month Return of All Stocks Mentioned Below: 3.89%
Analysis of List Alpha:
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Week): 11 out of 21 (52.38%)
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Month): 8 out of 21 (38.10%)
Chart: Distribution of 1-Week Returns For All Stocks Mentioned Below
Chart: Distribution of 1-Month Returns For All Stocks Mentioned Below
1. Molycorp, Inc. (MCP): Focuses on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. Net institutional shares bought during the most recent quarter at 10.8M shares (11.86% of float at 91.05M shares). Size of inventory grew by 193.88% during the most recent quarter ($281.13M vs. $95.66M y/y), while revenue only increased by 48.93% ($205.6M vs. $138.05M y/y). Inventory, as a percentage of current assets, increased from 12.83% to 30.45% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
2. First Solar, Inc. (FSLR): First Solar, Inc. manufactures and sells solar modules using a thin-film semiconductor technology. Net institutional shares bought during the most recent quarter at 4.7M shares (7.80% of float at 60.22M shares). Size of inventory grew by 39.15% during the most recent quarter ($662.58M vs. $476.17M y/y), while revenue only increased by -16.57% ($839.15M vs. $1,005.79M y/y). Inventory, as a percentage of current assets, increased from 19.59% to 24.45% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
3. Tesla Motors, Inc. (TSLA): Designs, develops, manufactures, and sells electric vehicles and advanced electric vehicle powertrain components. Net institutional shares bought during the most recent quarter at 9.8M shares (12.90% of float at 75.97M shares). Size of inventory grew by 223.14% during the most recent quarter ($159.05M vs. $49.22M y/y), while revenue only increased by -13.13% ($50.1M vs. $57.67M y/y). Inventory, as a percentage of current assets, increased from 11.94% to 55.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
4. Twin Disc Inc. (TWIN): Designs, manufactures, and sells marine and heavy duty off-highway power transmission equipment. Net institutional shares bought during the most recent quarter at 459.8K shares (5.44% of float at 8.45M shares). Size of inventory grew by 7.46% during the most recent quarter ($112.81M vs. $104.98M y/y), while revenue only increased by -15.42% ($68.79M vs. $81.33M y/y). Inventory, as a percentage of current assets, increased from 51.58% to 57.46% during the most recent quarter (time interval comparison 3 months ending 2012-09-28 to 3 months ending 2011-09-30).
5. Freescale Semiconductor Holdings I, Ltd. (FSL): Engages in processing semiconductors and solutions for automotive, networking, industrial, and consumer markets worldwide. Net institutional shares bought during the most recent quarter at 5.8M shares (11.37% of float at 51.02M shares). Size of inventory grew by 1.38% during the most recent quarter ($810M vs. $799M y/y), while revenue only increased by -11.65% ($1,009M vs. $1,142M y/y). Inventory, as a percentage of current assets, increased from 34.35% to 36.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-28 to 3 months ending 2011-09-30).
6. Polypore International Inc. (PPO): Develops, manufactures, and markets microporous membranes used in separation and filtration processes. Net institutional shares bought during the most recent quarter at 2.3M shares (5.37% of float at 42.85M shares). Size of inventory grew by 33.64% during the most recent quarter ($118.35M vs. $88.56M y/y), while revenue only increased by -6.55% ($177.62M vs. $190.06M y/y). Inventory, as a percentage of current assets, increased from 26.17% to 36.4% during the most recent quarter (time interval comparison 13 weeks ending 2012-09-29 to 13 weeks ending 2011-10-01).
7. Life Time Fitness Inc. (LTM): Designs, builds, and operates sports and athletic, professional fitness, and family recreation and spa centers in the United States. Net institutional shares bought during the most recent quarter at 2.4M shares (6.32% of float at 37.97M shares). Size of inventory grew by 32.41% during the most recent quarter ($27.17M vs. $20.52M y/y), while revenue only increased by 11.10% ($294.87M vs. $265.42M y/y). Inventory, as a percentage of current assets, increased from 27.16% to 30.48% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
8. Walter Energy, Inc. (WLT): Produces and exports metallurgical coal for the steel industry primarily in the United States. Net institutional shares bought during the most recent quarter at 3.8M shares (6.11% of float at 62.19M shares). Size of inventory grew by 65.18% during the most recent quarter ($374.24M vs. $226.57M y/y), while revenue only increased by -11.15% ($611.97M vs. $688.75M y/y). Inventory, as a percentage of current assets, increased from 27.64% to 43.19% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
9. Carpenter Technology Corp. (CRS): Engages in the manufacturing, fabrication, and distribution of specialty metals. Net institutional shares bought during the most recent quarter at 3.1M shares (6.81% of float at 45.54M shares). Size of inventory grew by 72.57% during the most recent quarter ($722.2M vs. $418.5M y/y), while revenue only increased by 31.59% ($544.9M vs. $414.1M y/y). Inventory, as a percentage of current assets, increased from 39.89% to 60.59% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
10. Peabody Energy Corp. (BTU): Engages in the exploration, mining, and production of coal. Net institutional shares bought during the most recent quarter at 23.1M shares (8.64% of float at 267.26M shares). Size of inventory grew by 57.69% during the most recent quarter ($554.9M vs. $351.9M y/y), while revenue only increased by 3.95% ($2,058.8M vs. $1,980.6M y/y). Inventory, as a percentage of current assets, increased from 11.71% to 20.9% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
11. Owens Corning (OC): Provides composite and building materials systems worldwide. Net institutional shares bought during the most recent quarter at 5.3M shares (5.73% of float at 92.44M shares). Size of inventory grew by 6.30% during the most recent quarter ($793M vs. $746M y/y), while revenue only increased by -12.0% ($1,276M vs. $1,450M y/y). Inventory, as a percentage of current assets, increased from 41.61% to 44.83% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
12. Derma Sciences Inc. (DSCI): Engages in manufacturing, marketing, and selling wound care, wound closure and specialty securement devices, and skin care products. Net institutional shares bought during the most recent quarter at 319.3K shares (7.68% of float at 4.16M shares). Size of inventory grew by 33.33% during the most recent quarter ($14.48M vs. $10.86M y/y), while revenue only increased by 23.97% ($19.65M vs. $15.85M y/y). Inventory, as a percentage of current assets, increased from 26.42% to 37.11% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
13. Beacon Roofing Supply Inc. (BECN): Distributes residential and non-residential roofing materials in the United States and Canada. Net institutional shares bought during the most recent quarter at 2.6M shares (5.51% of float at 47.20M shares). Size of inventory grew by 10.01% during the most recent quarter ($222.74M vs. $202.47M y/y), while revenue only increased by 3.92% ($598.12M vs. $575.56M y/y). Inventory, as a percentage of current assets, increased from 29.82% to 35.31% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
14. LeapFrog Enterprises Inc. (LF): Provides technology-based learning platforms worldwide. Net institutional shares bought during the most recent quarter at 6.6M shares (12.15% of float at 54.32M shares). Size of inventory grew by 63.61% during the most recent quarter ($115.08M vs. $70.34M y/y), while revenue only increased by 28.01% ($193.07M vs. $150.83M y/y). Inventory, as a percentage of current assets, increased from 29.07% to 33.34% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
15. Lawson Products Inc. (LAWS): Distributes products and services to the industrial, commercial, institutional, and governmental maintenance, repair, and operations marketplace in the United States and Canada. Net institutional shares bought during the most recent quarter at 255.3K shares (6.08% of float at 4.20M shares). Size of inventory grew by 23.19% during the most recent quarter ($54.6M vs. $44.32M y/y), while revenue only increased by -4.50% ($71.98M vs. $75.37M y/y). Inventory, as a percentage of current assets, increased from 38.45% to 54.81% during the most recent quarter (time interval comparison 3 months ending 2012-09-30 to 3 months ending 2011-09-30).
16. Vera Bradley, Inc. (VRA): Engages in the design, production, marketing, and retail of functional accessories for women under the