Mucklow (a & J) Share Discussion Threads

[linhur] 03/7/2021 07:35

MRF

Switched to London Metric on takeover. Pleased with them.

LMP have disposed of some MKLW offices and retail.
Completed deal with Amazon at Tylesly

Think that Rupert picked the right partners.

[my retirement fund] 01/7/2021 00:03

Anyone still on this thread? Been trotting around w.mids as far as Hartlebury to Halesowen today. The trading estates are on fire, rents going stratospheric. Shareholders, you were robbed! I mean you were ROBBED !!!

[stevegrass777] 29/6/2019 10:16

I'm beginning to think that the Mucklows have done a great deal here, London Metric is a much better company with the AJ Mucklow company, and I believe the share price has started to reflect that.
Can LM squeeze more out of the mucklow estate?
Maybe it can. If they do then LMP could do very well.
And this will make the Mucklows and us a lot of money.

[sleepy] 28/6/2019 12:51

topvest - totally agree. Interesting to compare them with the family at Pochins (taken private a few years ago at a price well below its all time high). Perhaps there is a lot to be said for a family having a substantial shareholding in a Plc but not having unchallengeable control

[topvest] 28/6/2019 12:44

Very sad to see the end of Mucklow as a listed company. Over 50 years and a fantastic record. Well done the Mucklows!

[quepassa] 28/6/2019 08:51

reinvested the majority of my mucklow proceeds into Land Securities. see latest LanSec bulletin board for rationale.

good luck all.

ps - who said UK M&A was dead? I have been taken out of a position in Merlin this morning in a recommended offer .. Two take-overs in a month - seems to me like some still have a lot of faith in the UK despite Brexit uncertainty.

[linhur] 13/6/2019 14:29

I have mixed and matched both ways. I want to add more shares on certificated shares so I pay less CGT. Correspondingly I wish to add more cash in my nominee accounts (ISA and SIPPS).
LondonMetric will pay a lower dividend than Mucklow.

[stevegrass777] 07/6/2019 13:29

Originally I was going to try and sell the lot on a good day when the price was close to offer price.
But now I wonder if the Mucklows made a smart move and now I think I might ride out the deal that has been given me and hope LM has a modest re rating because of the mucklow purchase, and maybe they can squeeze more out of the business than Mucklow could.

[topvest] 06/6/2019 18:55

I’m aiming to mix and match to take half cash and half shares overall. What are others doing?

[stevegrass777] 05/6/2019 13:57

LondonMetric are going up at the moment,and I’ve just calculated the offer is worth £6.60 a share at London Metric price of 208.20
Maybe Mucklow knows a more diversified London metric is worth much more than it was before,so as the news sinks in LM price could steadily rise.
Good for all

[topvest] 25/5/2019 21:24

Yes, agree that it's a pretty good deal and the Mucklow board should be congratulated. It's just a shame that Mucklow can't carry on. In reality warehouse assets are becoming overvalued - it's a sector that is over-heating. Mucklow have always been excellent on choosing the right time to exit or invest. This time is no different.

[linhur] 24/5/2019 09:09

First purchase in 1978/79 with steady additions thereafter until 2006. now a steady income stock.
Always a careful outlook from the Mucklows who have generally avoided banana skins.

London Metric look a good home in the current climate.

Thanks to Rupert for keeping a steady ship.

Linhur

[redartbmud] 23/5/2019 12:15

Rupert is now based in Portugal.
None of the other family members is involved in the business.
He was looking for a successor to his job.

The takeover solves the problem.

[skyship] 23/5/2019 11:59

MRF - already has (?) - see my earlier post re the dividend growth

[my retirement fund] 23/5/2019 11:23

Always suspected a sale was the most probable destination. Not many companies can boast the long and stable compounded dividend growth record over the decades that Mucklow achieved and I doubt its a record that will ever be beaten to be hohnest.

[shieldbug] 23/5/2019 10:45

That's a shame. Probably hold the cash now to see how Brexit and the trade war shakes out.

[stevegrass777] 23/5/2019 10:00

Well I'm really supprised at this news, I didn't know it was up for sale.
I've held for a long time now, but did sell half my holding a long time ago when it was trading well above NAV and back the entire holding shortly after the referendum result at a massive discount.
At first I couldn't understand why the Mucklow family would sell up, but last time we had a vote on Brexit just look at how much value was wiped off MKLW shares, maybe they just don't like the girations in price.
It will be interesting to see what they do with the cash part in the future.

[quepassa] 23/5/2019 09:55

Interesting post. thanks.

A tough sector for sure.

but at a time when the BigBoys like Landsec have taken one helluva beating, Mucklow have held up admirably against a very hostile market whilst paying a great divi.

Thanks for Highcroft. Will take another look.

[essentialinvestor] 23/5/2019 09:50

As 31 October approaches it may throw up some opportunities,
admittedly timing that is the tough bit. However think this is
a time to have stock watch and buy lists at the ready.

[skyship] 23/5/2019 09:42

QP

Well, until today’s pleasant surprise MKLW had really been a pretty poor performer with the share price having plateaued for the past 5yrs and still at the same level as 2006! (unless I’m missing something obvious in the data!)

Their dividend progress has been the envy of some, but since 2005 has grown at just 6%pa compound.

I say “just” as, compare this to my favourite which shows 10.9%pa compound over 20yrs and 13.9%pa compound over the last 10yrs.

A look at the NAV too shows since 2005 MKLW grew by 37%, compared with 59% for my favourite.

Not that I’m pouring cold water on MKLW, they did really well avoiding the obvious pitfall of excessive gearing and resulting life-saving rights issues in the 2007/8 slump.

My favourite did so too, yet it trades at a current discount high of 25.4% and a yield of 5.8%.

Finally, the share price for the two is pretty much identical – see chart below, which also reveals the Company to which I refer! Quite a bit more just yesterday on the relevant B/b thread.

Could be a good place to park some of your MKLW cash…


free stock charts from uk.advfn.com

[quepassa] 23/5/2019 09:38

thanks for Hansteen.

re EZJ -indeed. it hadn't escaped my notice!

we may likely see 800p again!

[essentialinvestor] 23/5/2019 09:25

I like HSTN fwiw, however we could be in for a bumpy few months,
so it may (possibly) pay to wait.

QP, speaking of turbulence - EZJ

[quepassa] 23/5/2019 09:12

well done all.

at a time of real gloom'n'doom for uk property generally, this was a stand-out sector and a hidden gem.

sold all holdings in Mucklow this morning.

can anyone suggest other UK warehousing/commercial propco's worth researching please?

QP