Looking for a stock that is literally greasing the wheels of late-stage capitalism? Cramer thinks he found it in Colfax, a fluid-management play that just came public.
Fluid management may sound boring or irrelevant, but it’s actually a bedrock "new tech" business that’s vital to the workings of many different industries. Companies like the Virginia-based Colfax make businesses from oil to paper to chemicals to shipping more efficient by building pumps that transfer and handle liquids. Think of it as the lubricant that keeps so many markets running smoothly, Cramer said.
Colfax has big exposure overseas – three quarters of its revenues are generated outside the U.S. And its customers are a pretty respectable bunch, ranging from General Dynamics to Cummins to GE (parent company of CNBC) and the U.S. Navy.
Because the stock is relatively small, Cramer recommended Homegamers wait a week and only buy when the market is open and only use limit orders. And he wouldn’t pay over $21.
As far as he is concerned, Colfax is a gem of a “new tech” company. This is your chance to buy it at a decent price.
Cramer recommended two other “new tech” stocks Monday. Check out his calls on Emerson Electric and Owens Corning.
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