The somewhat good news is that WFI continues to take back market share lost in 2009 to its main competitor LSB Industries (NYSE: LXU), as evidenced by WFI's 15% rise in sales while those of LXU (in the Climate Control business) fell in its 3rd quarter report. The company management in its Q3 earnings webcast and in an email in response to my questions state that things like a 3% price increase and bulk buying will improve margins.
We investors (yes, I still own the shares I bought in September) need to be patient. Maybe I'm just one of those "refuse to sell a loser stock" that all those behavioural finance books make fun of, but I'm not selling. I still think the payoff is two years away. The key US housing market is still looking very weak in recent data. The post Q3 report drop in price to around $22 makes WFI an even more attractive Buy in my opinion though two professional analysts have dropped their recommendation to Hold according to TMX.com.
The folks at Waterfurnace looked into why the US dollar version of the stock is not trading (and has not done so for a long while) on the TSX. This is their reply:
"WFI.U, WaterFurnace stock traded in U.S. dollars on the TSX, is still a valid symbol. When WaterFurnace set up WFI.U, there was expectation that there would be significant interest in trading in U.S. dollars. At first, the market maker made some attempt to get things going, but trading in U.S. dollars didn’t take off. The market maker has now posted its bid and ask orders so far apart that trading via WFI.U is not a feasible option. I think investors who want to trade in U.S. dollars simply use WFIFF.PK."The Yahoo Finance chart for WFIFF.PK shows it is about as active in volume as it is in Canada.