The Low-Profile but High Value Business of Metalico Inc. (AMEX: MEA)
Some may sneer at scrap metal, but let no snobbery stand in the way of cascading dollars from this corner of the Iron & Steel Industry. It is convenient to blame the BRIC block of countries for demanding so much of various metals that scrap enterprises have become profitable. However, the truth is that it has always been so. Fierce competition and conservation concerns make a heady mix in terms of recycling finite resources. 59% of the 36.04 million shares of this small-capital member of the Basic Materials Sector are held by reputed financial institutions. The early-September 2008 stock price…