(ATU, $50)In 2000, Applied Power spun off its electronics unit and renamed itself Actuant. Since then, the company has cut millions of dollars off its debt load and tapped into a number or growing industrial niches. Actuant, with $1.2 billion in sales, is hardly glamorous - it makes industrial tools, electrical supplies, and motion-control systems. But Morningstar analyst Ramesh Poola says that many of the firm's products, including its Gardner-Bender wire strippers popular with home renovators, fetch premium prices and continue to gain share in a competitive retail market. Despite the recent rise in Actuant's stock price, shares are still cheap, selling for just 14 times estimated earnings over the next 12 months. Reinhart calculates that they are worth $68.