It is believed that 500 years before Columbus arrived to the new world, a Viking by the name of Leif Ericson and 30 sailors had explored what is now Maine, and even tried to settle there. Hundreds of years later, in 1820 Maine separated from Massachusetts and became the 23 state in the Union.
Some interesting facts about Maine follow:
1. Maine lobster is available all year long. 2. Maine’s Department of Economic & Community Development offers Tax incentives, Training Programs, and Financing Assistance to businesses relocating or expanding in the State. 3. There were a total of 127 covered bridges in Maine, today only 7 original and 2 reconstructed remain. 4. Maine is a top producer of canned sardines. 5. 99% of wild blueberries consumed in the United States come from Maine. 6. 90% of toothpicks in the domestic market come from the state of Maine. 7. There are more than 25 ski areas in Maine. 8. Maine suffers in average one tropical storm or hurricane every eight years, although frequency has increased since 1960 to almost one storm every two years. 9. There are more than 3,000 islands in Maine. 10. Maine’s main industries are naval shipbuilding and the paper and wood industry.
The following companies are headquartered in Maine:
Idexx Laboratories, Inc. (IDXX) produces and sells veterinary products. The company also provides radiography equipment to veterinarians. The stock has a market cap of $3.4 billion, a PE of 26, and a PEG of 1.36.
Fairchild Semiconductor International Inc. (FCS) manufactures and sells power and non power semiconductors to communication, computer and automobile companies. The stock has a market cap of $1.3 billion and a PE of 10.
Wright Express Corporation (WXS) is in the business of providing payment processing to the government and commercial vehicle fleet sector. The stock has a market cap of $1.75 billion, a PE of 10, and a PEG of 1.01.
Camden National Corp. (CAC) is the holding company of Camden National Bank (a commercial and consumer banking company in Maine). The stock has a market cap of $275 million, a PE of 11, and it pays a yield of 3.0%.
The First Bancorp, Inc. (FNLC) is the holding company of The First, N.A. (a bank that provides services to individuals and small businesses). The stock has a market cap of $152 million, a PE of 16 and it pays a yield of 5%.
Bar Harbor Bankshares (BHB) is the holding company of Bar Harbor Bank & Trust (a bank providing services to individuals and businesses). The stock has a market cap of $111 million, a PE of 8, and it pays a yield of 3.6%.
Maine & Maritimes Corporation (MAM) is in the businesses of delivering electric power. The company owns approximately 1,800 miles of power lines in Northern Maine. The stock has a market cap of $73 million and it pays a yield of 0.5%. This is a low cap stock and should be considered speculative.
Northeast Bancorp (NBN) is the holding company of Northeast Bank (a bank providing banking services in Maine). The stock has a market cap of $32 million. It currently pays a yield of 2.6%. This is a low cap stock and should be considered speculative.
ImmuneCell Corp. (ICCC) is a biotechnology company in the veterinary industry. It researches, produces, and sells health products for animals. The stock has a market cap of $11 million. This is a low cap stock and should be considered speculative.