AssessmentSJ has had a strong run over the past year, led by growth in infrastructure-related businesses, strategic acquisitions, and share repurchases. It pays a small yield of 1.2%, analysts expect good sales and earnings growth over the next few years, and its margins have been expanding. We consider its valuation to be reasonable at 14X forward earnings and 1.2X forward sales. It has been surpassing earnings and sales expectations nicely over the past several quarters, and for a long-term position, we would be quite comfortable with SJ today. (5iResearch)