The price of this strongly performing heavy materials and infrastructure stock has been retesting new highs in the $15.80 area over the last fortnight, following yet another earnings expectation upgrade.
Rinker Materials Corporation ( Readymix in Australia ) has it's major operating focus in high growth areas of the States, ( 8% -11% cumulatively pa. ) for it's product, Arizona, storm ravaged Florida where much rebuilding is occurring, and elsewhere. These economically bouyant areas have readily accepted several rounds of price increases in recent years.
Profitability in the Florida operation, I understand, is up 500% since January, 2000.
The RIN chart is one of impressive and sustained growth. From the $4.50 _$5.00 area worked just after the mid 2003 float, it has now gained over 300%.
RIN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
