I like both IMCD ( OTCPK:IMCDY ) and Azelis ( OTCPK:AZLGF ) as capital-light specialty chemical distributors with the potential to produce annual returns in excess of 20% for investors over the coming 5-10 year period. Their industryI manage a handful of portfolios, all of which have outperformed the S&P 500 index since inception in 2020. I like to evaluate companies as a business - not a stock ticker - and invest when I judge the market to have significantly mispriced them. I have a degree in Engineering a ...

Core Viewpoint - Assurant, Inc. (AIZ) is experiencing a short-term bullish trend as it trades above its 200-day simple moving average, despite a recent decline in share price from its 52-week high [1] Company Performance - Assurant's share price as of Tuesday was $205.44, down 10.8% from its 52-week high of $230.55 [1] - The company has a market capitalization of $10.36 billion, with an average trading volume of 0.4 million shares over the last three months [3] - Over the past year, Assurant's shares have gained 6%, underperforming the industry average return of 8.5% [2][7] Valuation Metrics - Assurant's forward 12-month price-to-book ratio is 10.54X, which is above the industry average of 8.91X [4] - The average target price for Assurant shares is $239.33, suggesting a potential upside of 14.7% from the last closing price [11] Growth Projections - The Zacks Consensus Estimate for Assurant's 2025 earnings per share indicates a year-over-year increase of 5.7%, with revenues expected to reach $12.63 billion, reflecting a 5.6% improvement [9] - For 2026, earnings per share and revenues are projected to increase by 15.1% and 4.8%, respectively, compared to 2025 estimates [9] - Earnings have grown 16.6% over the past five years, outperforming the industry average of 9.8% [9] Analyst Sentiment - Three out of five analysts covering Assurant have raised their estimates for 2025 and 2026 over the past 30 days, leading to a 3.5% and 2.6% increase in the consensus estimates for those years [10] Return on Capital - Assurant's return on equity in the trailing 12 months was 16.4%, exceeding the industry average of 14.8% [13] - The return on invested capital (ROIC) was 10.7%, significantly higher than the industry average of 1.9% [13] Strategic Focus - Assurant is concentrating on expanding its capital-light businesses, which currently account for 52% of segment revenues, and is expected to grow in double digits over the long term [14] - The company is enhancing its Connected Living platform, particularly in mobile protection, which is anticipated to drive solid growth [15][18] Capital Management - Assurant has a robust capital management policy, with an 11% dividend increase approved in November 2024, marking the 20th consecutive year of dividend hikes [19] - The company has repurchased shares totaling $62 million in Q2 2025, with an additional $25 million repurchased from July 1 to August 1, 2025 [19]