Cramer's 'Mad Money Recap': America's New Tech Stars

Click here for an archive of Cramer's "Mad Money" recaps.

---

"Manufacturers are the new technology companies," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

These companies are showing organic growth that is as good or better than so-called traditional technology companies such as Cisco>(CSCO Quote) and National Semiconductor(NSM Quote), he said.

Cramer: A Stock Like Apple

According to Cramer, today's manufacturers are using technology to engineer the products the world needs but are cheaper on a P/E basis than just about any other sector.

Harsco (HSC Quote) fits the description of this new breed of technology companies. The Camp Hill, Penn.-based company provides services and engineers products for the steel, railway and energy companies to help them become more efficient and eco-friendly.

Cramer first recommended Harsco on April 10, 2007 at $45 a share. Since then, the stock has risen 31% to $60 a share. Cramer praised the company for consistently exceeding earnings expectations quarter after quarter. He also noted that Harsco now gets 70% of its sales internationally, thus shielding it from the ailing U.S. economy.

Harsco currently trades at just 15 times its expected 2009 earnings, yet maintains a 15% long-term growth rate. Cramer said this makes the company still way too cheap in his book. "This is a real technology company, one that is consistently innovating," he said.

Cramer also reiterated his buys on both railway CSX Corp (CSX Quote) and Cummins (CMI Quote), both of which he said are surging in their respective industries.

A Brand as Worthy as Wrigley

Cramer welcomed William Johnson, president and CEO of Heinz (HNZ Quote), to the show to find out if his company can compare to high valuation Wrigley (WWY Quote) received with its recent takeover bid.