New IdeasIndustrials Group

JOY GLOBALJoy Global Inc. [JOYG]Three business segments:Underground Mining Machinery – Products (e.g. roof supports, shuttle cars, haulage systems) & Aftermarket ServicesSurface Mining Equipment – Products (e.g. electric shovel, blast-hole drills) & Aftermarket ServicesCrushing & Conveying – Conveying and crushing systemsQuick Stats:Market Cap: 4.1 BP/E ttm: 9.8 (P/E ftm: 17.3)ROA: 15.78% (vs 1.54% industry)ROE: 56.63% (vs 14.89% industry)Operating margin: 17.8% (vs 4.1% industry)Thesis: Commodity price will drive JOYG revenue (historically, high correlation with commodity prices)

Three business segments:

Underground Mining Machinery – Products (e.g. roof supports, shuttle cars, haulage systems) & Aftermarket Services

Surface Mining Equipment – Products (e.g. electric shovel, blast-hole drills) & Aftermarket Services

Crushing & Conveying – Conveying and crushing systems

Quick Stats:

Market Cap: 4.1 B

P/E ttm: 9.8 (P/E ftm: 17.3)

ROA: 15.78% (vs 1.54% industry)

ROE: 56.63% (vs 14.89% industry)

Operating margin: 17.8% (vs 4.1% industry)

Thesis: Commodity price will drive JOYG revenue (historically, high correlation with commodity prices)

FRONTLINE LTD.Frontline Ltd. [FRO]Transportation of crude oil and raw materials through the ownership and operations of OBO (oil/bulk/ore) carriersQuick Stats:Market Cap: 1.8 BP/E ttm: 3.3 (P/E ftm: 17.66)ROA: 14.43% (vs 0.30% industry)ROE: 90.59% (vs 1.13% industry)Operating margin: 36.26% (vs 0.15% industry)Thesis: Stabilization and increase in demand for oil and raw material will drive revenue

Transportation of crude oil and raw materials through the ownership and operations of OBO (oil/bulk/ore) carriers

Quick Stats:

Market Cap: 1.8 B

P/E ttm: 3.3 (P/E ftm: 17.66)

ROA: 14.43% (vs 0.30% industry)

ROE: 90.59% (vs 1.13% industry)

Operating margin: 36.26% (vs 0.15% industry)

Thesis: Stabilization and increase in demand for oil and raw material will drive revenue

HOLLY ENERGY PARTNERS, L.P.Holly Energy Partners, L.P. [HEP]Pipeline, storage, and distribution of crude oil/related products in West Texas, New Mexico, Utah, and ArizonaQuick Stats:Market Cap: 0.6 BP/E ttm: 19.19 (P/E ftm: 13.70)ROA: 7.60% (vs 6.25% industry)ROE: 22.72% (vs 7.09% industry)Operating margin: 44.48% (vs 7.89% industry)MLP yield: 9%Thesis: Stabilization and increase in demand for crude oil (though price near 52 week high)

Pipeline, storage, and distribution of crude oil/related products in West Texas, New Mexico, Utah, and Arizona

Quick Stats:

Market Cap: 0.6 B

P/E ttm: 19.19 (P/E ftm: 13.70)

ROA: 7.60% (vs 6.25% industry)

ROE: 22.72% (vs 7.09% industry)

Operating margin: 44.48% (vs 7.89% industry)

MLP yield: 9%

Thesis: Stabilization and increase in demand for crude oil (though price near 52 week high)