Q: What's to like about this company? A: Sellecchia: Over the last three years or so, it has been shifting its production capacity. They have been closing capacity in the U.S. and in Europe, and they have been building up major capacity in Asia. That spending is just about to come to an end, and some of the capacity is coming on right now. So they are moving where the growing economies are. Another interesting thing about this company is that they have a small composites business, which is carbon-reinforced fiber that can be used for aerospace markets. Unfortunately, one of their important customers declared bankruptcy, hurting their near-term results, but they have been addressing that. We like the stock's yield, which is nearly 5%, and the company has earnings power north of $3 a share, compared with the consensus estimate for this year of 95 cents. It has sound management and the balance sheet looks reasonable, with a debt-to-capital ratio in the low-40% range.

Q: What, then, do you like about this company? A: Delafield: We continue to think it is a very well-managed company. Yes, revenues are going to be very much lower than anybody expected for the indeterminate future. But the company continues to generate free cash flow and pay off debt. As the economy recovers, they will be in a strong position to take on new business and to get more business from their best customers.

Q: How about one more pick. A: Sellecchia: Barnes Group [B] is a company we have known for about 20 years. Its market cap is about $750 million, and it has about $1.36 billion in annual sales from three businesses: aerospace components, industrial components and distribution. The aerospace business is a little bit smaller than the other two. What I like about this company is that if you went back to the second quarter of '08, the aerospace business had 20%-plus operating margins, the industrial business was earning 15% operating margins, and then you had the distribution business, which was earning less than 5% operating margins. If you cut across that distribution business, the North America piece was earning 10%-plus operating margins, and the international piece was losing money. But it was clear they were going to do something with that business. And, sure enough, they restructured it, primarily in the U.K. They are now in a position that whenever that business does pick up, they should be able to show a nice improvement.