One the Line: Barnes Group CEO Greg Milzcik
Some on Wall Street claim the bull market in aerospace is getting a bit long in the tooth, Cramer said. But he thinks the sector still has some life in it.
Barnes Group CEO and President Greg Milzcik, today’s call-in guest on Mad Money, agreed: “It’s incredibly strong, and we’re in the sweet spot of the current aerospace cycle.”
Barnes focuses on difficult-to-manufacture parts, exotic materials and what Milzcik called “high-volume, high growth platforms,” like those used in the 787.
Milzcik said his company has done a number of things to position itself for the long term that are paying off now. Specifically, Barnes has spent over $350 million over the past seven years in aerospace on acquisitions, revenue-sharing partnerships and capital expansion.
Analysts seemed disappointed with Barnes’ distribution business, but the Milzcik said the company has laid out a plan for sales and margin growth.
“Let the downgrades come and then I would buy some,” Cramer said. “This stock’s just too cheap when it gets down to $20. It’s just too cheap.”
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