Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

UTP (UTP TB): Continued Gain from Tight Global Paper Supply

Small Cap Diary: Singha Estate, United Papers

Interesting Stocks to Consider in Thailand

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Equity Bottom-Up

<ul>
<li>Strong long-term sales growth, sales on an upcycle trend, and capable of funding growth internally relative to its sector</li>
<li>Sales growth for UTP’s cardboard paper and packaging used for corrugated boxes should be supported by an ongoing 20% ramp up in production to 20,000 tons/month on tight global supply conditions</li>
<li>Strong demand and efficiency improvements on older cardboard paper making equipment has expanded margins, operating margin expanded by 7 ppts in 1H18 YoY</li>
<li>UTP has shown solid improvements in asset turnover while also improving its net margin</li>
<li>Risk: Chinese moves to ramp up paper supply again</li>
</ul>


Strong long-term sales growth, sales on an upcycle trend, and capable of funding growth internally relative to its sector
Sales growth for UTP’s cardboard paper and packaging used for corrugated boxes should be supported by an ongoing 20% ramp up in production to 20,000 tons/month on tight global supply conditions
Strong demand and efficiency improvements on older cardboard paper making equipment has expanded margins, operating margin expanded by 7 ppts in 1H18 YoY
UTP has shown solid improvements in asset turnover while also improving its net margin
Risk: Chinese moves to ramp up paper supply again


UTP (UTP TB): Beneficiary of Tight Global Paper Supply