Most investors will steer clear of growth stocks in uncertain economic and stock market environments. This makes sense for the most part, but more so for well-known growth stocks where investors have piled in and driven the multiple to sky-high levels.

There are lesser-known growth companies that are hitting on all cylinders, yet you don’t have to pay an enormous premium to own their stocks. What’s most intriguing about the companies and their stocks listed below is that they have all managed to appreciate over the past year. This is not easy for a growth stock in the current market environment. On top of that, every company listed below generates positive cash flow, has delivered consistent revenue and net income gains over the past three fiscal years, pays a dividend, and sports a debt-to-equity ratio lower than 1.00 – often considerably lower than 1.00.

These fundamentals indicate that the companies below should be capable of weathering even the worst of stock market storms. This doesn’t mean their stocks will appreciation. In fact, if we see a deflationary bear market in the second half of this year (or possibly earlier), then these stocks are likely to depreciate. However, these aren’t the types of stocks you hold for a trade; they’re the types of stocks you hold for decades, knowing that doing so has the potential to make you very wealthy.

If you’re concerned about the broader market in the near term, then you might want to discuss strategies with your financial advisor, which might include dollar-cost averaging or a dividend reinvestment plan.

The information below is objective and numbers only. Please view this information as a potential starting point for your own research prior to making any investment decisions.

All numbers below as of Feb. 25, 2016.

High Growth Stocks

Alaska Air Group, Inc. (ALK)

Industry: Regional Airlines

Market Cap: $9.20 billion

Trailing P/E: 11 (vs. industry average of 11)

Average Daily Trading Volume: 1.4 million

1-Year Stock Performance: 15.04%

Dividend Yield: 1.52%

Debt-to-Equity Ratio: 0.29

AO Smith Corp. (AOS)

Industry: Industrial Electric Equipment

Market Cap: $6.11 billion

Trailing P/E: 22 (vs. industry average of 20)

Average Daily Trading Volume: 882,674

1-Year Stock Performance: 10.22%

Dividend Yield: 1.39%

Debt-to-Equity Ratio: 0.17

Balchem Corp. (BCPC)

Industry: Chemicals – Major Diversified

Market Cap: $1.96 billion

Trailing P/E: 31 (vs. industry average of 17)

Average Daily Trading Volume: 132,844

1-Year Stock Performance: 2.10%

Dividend Yield: 0.55%

Debt-to-Equity Ratio: 0.67

Cal-Maine Foods, Inc. (CALM)

Industry: Food – Major Diversified

Market Cap: $2.57 billion

Trailing P/E: 7 (vs. industry average of 25)

Average Daily Trading Volume: 904,033

1-Year Stock Performance: 40.47%

Dividend Yield: 6.09%

Debt-to-Equity Ratio: 0.03

Middlesex Water Co. (MSEX)

Industry: Water Utilities

Market Cap: $464.45 million

Trailing P/E: 24 (vs. industry average of 26)

Average Daily Trading Volume: 42,746

1-Year Stock Performance: 22.80%

Dividend Yield: 2.84%

Debt-to-Equity Ratio: 0.77

Selective Insurance Group Inc. (SIGI)

Industry: Property & Casualty Insurance

Market Cap: $1.96 billion

Trailing P/E: 12 (vs. industry average of 11)

Average Daily Trading Volume: 220,608

1-Year Stock Performance: 23.49%

Dividend Yield: 1.78%

Debt-to-Equity Ratio: 0.28

The Bottom Line

If you exclude macroeconomic conditions and simply look at company fundamentals, these six growth stocks should be on your watch list. All six of them are growing without leverage. The near term could be challenging, but the long term should be rewarding. (For related reading, see: 4 High-Growth Stocks to Buy in 2016.)

Dan Moskowitz does not have any positions in ALK, AOS, BCPC, CALM, MSEX or SIGI.

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