Bodycote Share Discussion Threads

[dasv] 24/2/2013 15:12

Bluebelle - I bought back in to SXS. Don't like buying in higher than I sold but really liked recent numbers.

I'm into quite a few zulus with the market cap filter removed.

[bluebelle] 22/2/2013 11:07

dasv
Sorry to hear that - it's certainly outperformed expectations !

[wad collector] 22/2/2013 10:58

Another few pence and I am out of here. It has been a good run and I am sceptical that the market recovery will sustain , at least in the short term. 521 will do me.

[dasv] 13/2/2013 21:24

Bluebells, I sold out of SXs at 18. Grrrrr...

[wad collector] 12/2/2013 16:44

Cheeky little rise to close at 505p.
I keep thinking I ought to bail out of these but it does keep running.So I shall sit on my hands for longer.

[bluebelle] 19/1/2013 09:21

mayers
Take a look at SXS. Subject to 3 broker downgrades earlier this month and has just powered to new all time highs on the back of results. BOY is currently significantly undervalued relative to its peers IMHO. Value will ultimately out - as it always does in the long run !

[mayers] 18/1/2013 19:53

I have a feeling these have shrugged of the broker's adverse recommendation. A resurgance of China cannot do them harm. I continue to hold.

[bluebelle] 14/1/2013 08:21

SO a SELL even though their target price is more than 10 % above the current price. What are they recommending with more than a 10% short term upside ? Brokers forecasts for most stckks are computer generated rubbish IMHO.

EDIT
I see they actually raised their target price to 440 from 390

[major clanger] 10/1/2013 19:58

Citi downgraded to sell today, CS stayed at o/p (500p TP), BoML stayed at u/p (450p TP - from 375)...

Saw this:

[wad collector] 03/1/2013 20:28

Thanks for that ; further new peaks since then ; £5 doesn't seem so far away.(Unlike the beginning of last yr!)

[bluebelle] 20/12/2012 09:38

455 on 12.08.99 and 544 on 19.05.98 according the Sharescope, wad (decided not to use wc !!!). Haven't held anything like that long myself, but Sharescope adjusts for share splits etc. so if there have been any these will be the adjusted figures.

When you see how long it is since those highs, it does make you think that (successful) active management beats buy and hold !

[wad collector] 19/12/2012 10:49

Do I see a 13 yr high? I cannot remember if there have been any share splits.




2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Arden Partners
18-12-12 NEUT 90.98 36.00 13.00 97.02 37.94 15.00
Panmure Gordon
18-12-12 BUY 85.40 33.90 12.00 89.80 35.60 13.20
N+1 Singer
14-12-12 HOLD 89.80 36.00 12.00 97.20 39.40 13.00
Investec Securities
13-12-12 BUY 88.30 34.90 12.00 90.00 35.30 12.50
Milkstone Ltd
29-11-12 BUY 90.50 34.90 12.00 97.30 38.00 13.

[troutman2] 18/12/2012 14:18

No idea blubelle, who knows what goes on in the world of high finance ?.
I think the Saudi,s are behind a lot of companies now, as funding has become harder to get, they have taken opportunity of this recession to take big stakes in the stocks that are bombed out.
Given the secret nature of the Saudi,s, its hard to call ?, but they say buy the rumour, sell the news, something like that ?.
I,m not buying any myself though, as I already hold a few, but given the cheap price I guess I,d rather be inside looking out, then outside looking in.

[bluebelle] 18/12/2012 13:55

troutman
That's interesting. I have no 'inside track' on either BOY or WEIR but the buying power of these sovereign wealth funds is immense so, with that sort of backing, anything is possible. I don't follow WEIR at all closely, but my perception - certainly if your buying a management and its track record (including acquisition histroy) - the Saudi's would be better of funding BOY rather than WEIR !

[troutman2] 18/12/2012 13:16

Hi Bluebelle

I was speaking to my x brother in law, he works as an accountant for the company, and he said it was common knowledge Weir were sniffing so to speak, he said Weir were being funded by Saudi Arabia investment banks.
Not sure if this is illegal insider information, as he said it was common knowledge ?, cannot find anything on the internet though ?.
Lets just see what the New Year holds ?.

[bluebelle] 18/12/2012 09:40

Hadn't seen anything, troutman, but are WEIR in a position where they could credibly offer anything remotely acceptable to BOY shareholders ?

[troutman2] 18/12/2012 09:37

Hi

Anyone know about the rumour of a play for Bodycote from the Weir group in the new year ??.

[wad collector] 16/11/2012 09:59

The market seems to like it , a bit , currently up 5%.
Bottom line I suspect is the bottom line literally ;

"expectations for the year to 31 December 2012 are unchanged"

That will do.

[bluebelle] 16/11/2012 08:24

INTERIM MANAGEMENT STATEMENT
16 NOVEMBER 2012
Bodycote is issuing its interim management statement covering the period from 1 July to 15 November 2012. The financial and operational data set out below relates to the four months from 1 July to 31 October 2012 (the "period") unless otherwise stated. All comparative comments in this statement reflect comparisons with the corresponding period in 2011.
CURRENT TRADING
Reported revenue growth for the period was 2.9% (7.6% at constant exchange rates, of which organic growth accounted for 2.6% and 5.0% came from acquisitions).
Sales in Aerospace, Defence and Energy were ahead by 14.4% (15.9% at constant exchange rates), with organic growth at 10.4% and acquisitions added 5.5%. At constant exchange rates sales in Western Europe improved by 14.2%, all of which was organic. In North America, revenues, at constant exchange rates, grew 17.5% of which organic growth accounted for 7.1% and acquisitions 10.4%. Revenues from the commercial aerospace sector showed further growth, driven by increases in OEM production. The defence sector remained stable. Sales into oil and gas customers continued to improve. Industrial gas turbine demand was good in North America but remained subdued in Europe.
Automotive and General Industrial revenues were lower by 5.2% but at constant exchange rates were ahead 1.8%, with organic sales lower by 2.9%. In Western Europe sales at constant exchange rates were down by 2.9%. There were no acquisitions in the period. In contrast North America increased organic revenues, at constant exchange rates, by 6.5% and acquisitions added a further 32.2%. Emerging market revenues were weak in all territories. In Automotive and General Industrial, car, light and heavy truck sales exhibited modest growth in North America and remained soft in continental Europe. General Industrial revenues showed small improvements in all territories.
ACQUISITION
On 15 October, Bodycote acquired the business of Carolina Commercial Heat Treating, comprising six facilities in the South Eastern USA, together with an additional facility in Southern Indiana for a total cash consideration of US$67.4 million. The majority of the business serves the general industrial hinterland of the Carolinas, Georgia, Alabama and Tennessee, including some key customers in off-road vehicle and heavy truck manufacturing and a growing presence in aerospace and energy markets (c.15% of sales). Sales to the car and light truck sectors represents some 23% of the business. This acquisition represents a considerable step forward in the delivery of Bodycote's strategy in North America.
FINANCIAL POSITION
Net borrowing at 31 October was GBP33.7m, compared to GBP16.7m at 30 June 2012, reflecting the trading performance outlined above, normal seasonal cashflows and the acquisition costs of Carolina Commercial Heat Treating.
OUTLOOK
Although trading remains volatile, the sales momentum we have seen in October and early November offers support for the remainder of 2012 and consequently the Board's expectations for the year to 31 December 2012 are unchanged.
Investor Conference Call
Stephen Harris and David Landless will be hosting a conference call for analysts and investors at 0800 hours today (16 November 2012).

[speedsgh] 12/11/2012 15:57

deej4y - thanks

[deej4y] 12/11/2012 15:48

Released on the 16th

[speedsgh] 12/11/2012 14:50

There was an IMS on 8 Nov last year. Nothing so far this year + can't find anything listed on the BOY website -

Does anyone have any idea when we may be getting an IMS from BOY?

[bluebelle] 16/10/2012 09:04

BODYCOTE PLC ACQUIRES CAROLINA COMMERCIAL
HEAT TREATING BUSINESS FOR US$ 68 MILLION
MACCLESFIELD (U.K.) - Bodycote plc (LSE:BOY), the world's largest thermal processing services provider, announced today that it has acquired the business of Carolina Commercial Heat Treating (CCHT LLC) comprising six facilities in the South Eastern USA, together with an additional facility in Southern Indiana. The business was acquired from Bluewater Thermal Solutions LLC (Bluewater), for a total cash consideration of US$68 million. Bodycote has not acquired any interest in the remaining ten facilities owned by Bluewater in the Great Lakes region of the USA.
The consideration of US$68 million has been met from existing cash resources and bank facilities. In the twelve months to September 2012 the business delivered EBITDA of US$11.7 million on sales of US$34.9 million. The acquisition is expected to achieve a return on investment well in excess of Bodycote's cost of capital and be accretive to earnings in the first year of ownership.
The majority of the business serves the general industrial hinterland of the Carolinas, Georgia, Alabama and Tennessee, including some key customers in off-road vehicle and heavy truck manufacturing and a growing presence in aerospace and energy markets (c.15% of sales). Sales to the car and light truck sectors represents some 23% of the business.
Commenting on the acquisition, Stephen Harris, CEO of Bodycote said: "The acquisition of this pre-eminent heat treatment business in the South Eastern USA and Southern Indiana represents a considerable step forward in the delivery of Bodycote's strategy in North America. The business is of high quality and has few local competitors. This region of the USA continues to be amongst the highest recipients of inward investment in North America with many domestic and overseas corporations establishing facilities and supply chains in the area. The recent announcements from both Boeing and Airbus concerning their new manufacturing operations in the region underscore this trend. We expect the business to become more focused on aerospace and energy markets over time as the supply chains for these industries expand.
The acquisition also represents the first meaningful exposure for Bodycote to the off-road vehicle and heavy truck market in the USA. While demand from these particular sectors is expected to be lower in the near term, the medium and longer term prospects for this part of the business offer attractive returns".
Commenting on trading for Bodycote globally Harris added: "Trading for the period 1 July to 30 September 2012 was volatile, but overall has been in line with expectations".
Bodycote will publish its interim management statement on 16 November 2012.
Investor Conference Call
Stephen Harris and David Landless will be hosting a conference call for analysts and investors at 1000 hours today (16 October 2012).

[megabear] 16/10/2012 08:20

Looks like nice acquisition and more importantly trading said to be in line with expectations. Could be a pretty big short squeeze here as it had sold off because of the read across from the MGCR profit warning.

[snatander] 13/10/2012 09:58

Industrials taking a bashing, XPP, RNO, Volex,Cookson, Morgan Crucible have issued profits warnings this week. So is this next?