I've been following $IMCD (+1.19%) for a while now, and it's striking how little the stock has moved. Meanwhile, the company keeps growing. Margins are solid, the balance sheet looks healthy, and the dividend increased over the past years (except last 2years). It's not a high yield, but it’s steady and reliable. Also considering that they are actively expanding and doing add-on acquisitions.
What I don’t get is why the market doesn’t seem to reward that. Several analyses suggest the intrinsic value is higher than the current price. That should be an opportunity, right?
They operate globally, are active in a stable niche, and generate consistent cash flow. Yet the stock just drifts.
Although the market is a bit negative towards $IMCD (+1.19%) I have opened a position today.
Am I being too optimistic? Or do others also see value that hasn’t been priced in yet? Curious to hear your thoughts. Anyone already invested or staying away on purpose?