Howden Joinery Share Discussion Threads

[westdean] 07/8/2015 09:44

i have just noticed a couple of large type O trades...what do they mean or signify...can someone enlighten me?

[lauders] 05/8/2015 01:47

Still going :-) Another 100,000. The purchased shares will be held as treasury shares. Following the above transaction, the Company holds 2,200,000 ordinary shares in treasury, and has 649,630,815 ordinary shares in issue (excluding treasury shares).

They will save on a lot of capital return to what would have been shareholders outside the company on these recent buys.

[lauders] 04/8/2015 02:06

Another 100,000 and this RNS about capital too:

Voting Rights and Capital

In accordance with the Disclosure and Transparency Rules of the FCA, we would like to notify the following:

The Company's issued capital as at 31 July 2015 consisted of 651,830,815 ordinary shares of 10 pence each of which 2,000,000 ordinary shares were held in Treasury.

Therefore the total number of shares with full voting rights in the Company at the above date was 649,830,815 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Howden Joinery Group Plc under the FCA's Disclosure and Transparency Rules.

Good run of company buy backs been going on! Wonder if they will keep going?

[lauders] 01/8/2015 01:13

100,000 more bought by BDEV. Good to see us regain some ground last session. Hope we can break through 500p again soon and revert to the steady rise now that BDEV and others have bought more/in.

[flatoutfred] 31/7/2015 09:28

Surely such high buybacks must indicate something and that could be anything ?? Anyone got a good prize for the best guess ? My own guess is they might be strengthening their position for a sell out ! It may just be wishful thinking but it would be sooooo nice !

FoF

[shanklin] 31/7/2015 07:38

Apologies Lauders, Probably just being grumpy.

I can see why HWDN are doing their buybacks at current levels.

[lauders] 31/7/2015 07:35

Did not intend to mean they were out of control Shanklin. Questor stated this was the reason for the drop in share price & I was mearly stating that they get such costs under further control. Does that mean they are "out of control"? All a matter of interpretation but like your update on the matter :-) Thanks.

[shanklin] 31/7/2015 07:31

Lauders

As they had stated in previous RNSs, HWDN increased H1 costs deliberately to facilitate growth. So costs are not out of control as you imply.

[lauders] 31/7/2015 02:35

A bit less today ULINBAC. 100,000 but they are still buying back.



This is from Questor after the results:

The FTSE 250-listed kitchen and joinery group is still a successful and growing company.

Questor thinks Howden is a great company but investors are taking a far too rosy view of the future. The building supplies industry has always been and will remain a highly cyclical business. It could be the case that the housing market boom has years more to run. That said, the current share price makes no allowance for a slowdown.

The impact rising interest rates on the housing market and consumers is unknown. As an investor, Questor would resisting buying at these prices.

So you have the company themselves buying shares they believe are worth buying at this price and then Questor who think that, with the information they have, you should hold off. I think the important part here is going to be this part I highlighted in my previous post:

We continue to invest in these operations so as to ensure that this aspect of the Howdens model is never compromised, even during our critical 'Period 11', when sales are more than double the level seen in other periods.

If they can get the costs under more control HWDN may do better than expected.

[ulinbac] 29/7/2015 23:39

Another 200k bought today. Quite interesting to see such a large buyback.!!

[lauders] 29/7/2015 02:03

Well that appears to be 800,000 shares the company has bought back since the half yearly report that set the decline off. Reading through it again there are some areas that look promising for the future & obviously the company believes the current share-price is worth buying.

"Howdens has performed well, with sales increasing significantly in the first half. Cash generation remains strong, feedback from our depots is positive and we've seen a good start to the second half of the year.

"The range and extent of the opportunities we have identified, and on which our business model thrives, are increasing. We are opening more customer accounts, designing more kitchens and selling a wider range of product than ever before.

The Board is pleased with the positioning of the Group and, while we still have our important "Period 11" to come, the Group is well placed to achieve its expectations for the full year.

At 13 June 2015, the pension deficit shown on the balance sheet was GBP79.5m (27 December 2014: GBP142.6m). The decrease in the deficit in the period was due to an increase in the discount rate used to calculate liabilities and asset returns, and the Group's contribution to fund the deficit.

When we interact with our builder-customers' clients during the design of their new kitchen, we use our 'My kitchens' website to enable them to view visualisations of their new kitchen. Until now, this included static pictures and a video of the kitchen. This has now been enhanced with the addition of a facility that enables a 360(0) panorama of the new kitchen to be viewed on an iPad and other devices.

Last autumn, we trialled selling affordable granite worktops from stock, beginning in a small number of depots. At the start of this year, the trial was extended, granite now being sold from 200 depots, with more planned for the second half of the year.

Since its launch in 2009, our Lamona range of kitchen appliances has been very successful. Whilst we continue to invest in the range, as we develop it further, we are undertaking a trial of some additional branded appliances in a limited number of depots. At this stage, we have decided to sell AEG and Neff appliances throughout our depot portfolio.

Our UK-based manufacturing and logistics operations play a vital role in ensuring that we are able to supply our small builder customers from local stock nationwide at all times, having the flexibility to respond to each depot's individual needs. We continue to invest in these operations so as to ensure that this aspect of the Howdens model is never compromised, even during our critical 'Period 11', when sales are more than double the level seen in other periods.

With our confidence in our growth prospects, we are increasing our investment in capacity in all areas of Howdens' business, including in property, people, product and continuity of supply. This investment will support our continuing ability to offer better service to the builder, while meeting growing demand in a rapidly sophisticating market.

Looks good to me. Will continue to hold until the wording and outlook makes a turn for the worse. At present no real concerns that I can see.

[lauders] 28/7/2015 02:36

Anyone would think the end of the world has come the way you are going on az4hr. Bought in around 420p myself and not happy to see the recent weakness, but surely things haven't changed that much? Cannot keep going up and up. There have to be glitches/hurdles to overcome at some point and this is one of those for HWDN. Sentiment and the market have turned (China the latter, so timing not great), but will it keep going down? Would be very surprised!

[az4hr] 27/7/2015 23:05

and still going down like a rock wonder how low they would be without the buybacks down 9% even though they bought back nearly 2million worth

[ulinbac] 27/7/2015 20:59

HWDN bought back 200000 shares again announced after the close

[supasapi] 26/7/2015 09:15

thanks Thorpematt, think I will hold for a while

[ulinbac] 24/7/2015 17:29

Hi Lauders, Thanks for that. I have a stop loss in so hopefully I will be disciplined enough to get out should the need arise. ...

[lauders] 24/7/2015 14:56

Good luck then ULINBAC! Hope it works for you. Should get back above 500p in a few days (couple of weeks max?). You never know though. Nothing is for certain. It might even get a mention somewhere as a tip given the dip, but again we will just have to wait and see. Good to see a slight recovery today.

[ulinbac] 24/7/2015 13:40

Been following this for a few weeks. Bought in today. First stock I have ever bought :D... with proper analysis!!

[scottishfield] 24/7/2015 12:08

bought back in here this morning. good for a rebound imo.

[thorpematt] 24/7/2015 11:26

Yes, nice bounce.

Without doubt a good company with fantastic margins. I suspect there will be quite a churn in holders over the next few days as different investors with different agendas and timescales balance their holdings.

Make your own choice I guess...

[airwalk1971] 24/7/2015 11:22

Howden Joinery Group Plc 25.6% Potential Upside Indicated by Jefferies International

Howden Joinery Group Plc using EPIC code LON:HWDN had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ this morning by analysts at Jefferies International. Howden Joinery Group Plc are listed in the Industrials sector within UK Main Market. Jefferies International have set a target price of 600 GBX on its stock. This indicates the analyst believes there is a potential upside of 25.6% from the opening price of 477.8 GBX. Howden Joinery Group Plc LON:HWDN has a 50 day moving average of 518.89 GBX and a 200 Day Moving Average share price is recorded at 448.50 GBX. The 52 week high share price is 532 GBX while the 52 week low for the stock is 309 GBX.

[drogue] 24/7/2015 11:19

Just an over reaction and correction for the superb performance of the Company.
Risked a purchase near the bottom to add to holdings so am hoping for a return to price increase.