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Company’s stock may gain recovery

BY STEVE LACKMEYER Published: November 15, 2009
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TULSA — In compiling his own Tulsa stock index, financial analyst Jake Dollarhide has seen North American Galvanizing& Coating Inc. rank as the fifth worst performer.

Representatives of North American Galvanizing declined to participate in this story, but Dollarhide believes better times are ahead for the Tulsa company, which promotes itself as being a leading provider of hot-dip galvanizing and coatings for corrosion protection of fabricated steel.

"A lot of it has to do with continuing challenges in the industries they serve — communications, utilities, food processing, cultural — they serve customers in very economically sensitive industries,” Dollarhide said.

Dollarhide said the company’s growth was "surprisingly slow” mid-year during a time in which the stock market recovered much of the losses sustained since last fall.

"Most people agree the third quarter was very good for most companies,” Dollarhide said. "Very few saw stocks lose value or fall flat. But you’re only as strong as your customer base.