Billington Share Discussion Threads

[wanttowin] 23/5/2018 13:57

Perhaps buyers nibbling for the divvi next month?

[ansc] 23/5/2018 08:46

A 2000 share buy at 292p this morning with the online sell price (2500) now up to 283p. Is this a pointer, with the AGM scheduled for 4th June, we are going to get a bullish chairman's statement? On past performances, I won't be holding my breath .....

[ansc] 22/5/2018 08:48

With only one small trade sell marked so far this morning, online you can now get 278p for 2500 shares with none being available to buy. Mysterious.

I've driven past their Bristol Structural Steel depot (taking my son to work) for the last three Sunday mornings and each time their gates have been open with the appearance of staff working. Busy, busy?

[ansc] 17/5/2018 17:01

Ridiculous price movements today in intra-day chart above when compared to actual marks recorded.

[cc2014] 13/4/2018 13:48

The MM have wide spreads on most stocks outside the FTSE100 at the moment.

Much wider than usual.

It indicates the following either

a) they have got some large buyers out there and the wide spread discourages PI's buying. (or sellers but based on the FTSE100 moving up for the last week I'd say buyers

or

b) they don't know where the trend is and they've opened the spread to protect themselves.


I'm running with a) as it's pretty clear the trend is up the last week

NB - SFR nudging up by a tiny amount since the update but the spread is getting wider.

[ansc] 13/4/2018 13:24

The Market Manipulators have widened their spread again this morning to 15p (262/282p). I intended to buy a few more but not at any price ..... a 7.6% gain needed just to get your money back!

[cc2014] 12/4/2018 11:36

If it's any help I'm on SFR and the price action and L2 suggest someone trying to collect every share they can get on SFR without moving the price. They've been at it for weeks and have been quite successful.

I suspect the dam is about to break on SFR though and may support the view that BILN is about to move up too.

[cheshire man] 12/4/2018 11:10

Tried to buy a few more here but nothing at all offered :-(

[ansc] 11/4/2018 09:30

I keep an eye on SFR, BILN's peer, and they've issued a confident trading update this morning.

When I passed BILN's Bristol Structural Steel depot on Monday, the forecourt was packed with loaded HGV trailers waiting to be delivered ... it gave me a warm feeling!

[sailing john] 27/3/2018 08:56

ansc - Agree re controlling shareholder - a sleeping partner
But if anyone comes sniffing around for a take out it's a lot easier with just one major player to negotiate with! I live in hope that we will get taken out at a 50% premium which I view as fair value for a buyer.
Back to sleep zzzz
SJ

[ansc] 27/3/2018 08:46

I find the muted response to the announcement somewhat surprising and can only conclude that potential investors are deterred by the seemingly controlling holder. Having investigated with the company before I initially invested, I have no concerns at all because, although it appears to be controlling, they leave the running of the business to management and are regarded simply as an investor.

Even at 270p, the divi yield is a mouth-watering 4.26% ..... find that on the High Street!

[cheshire man] 27/3/2018 07:56

Not forgetting a nice increase in the divi :-)

[this_is_me] 27/3/2018 07:45

Yes, it is a well run company making steady progress out competing its rivals.

[ansc] 27/3/2018 07:21

A quick glance through the announcement and well pleased with what I've read so far. It looks as tho' 2018 has started well too. CEO writes:

"The UK construction industry has experienced a number of developments since the beginning of the year. The UK structural steel demand is forecast to remain stable throughout 2018 and 2019 and the Board will continue to closely monitor further developments in the industry in the year ahead, along with any potential impact these may have on the Group. The expansion strategy at the Shafton facility is continuing and Billington is well positioned to adapt to changes in the wider industry, which combined with our dedication to client relationships, should help us in achieving another solid performance in the current financial year."

That'll do for me!

[ansc] 24/3/2018 11:13

Extracted from 'Simply Wall St':

[Billington Holdings Plc, through its subsidiaries, designs, manufactures, and installs structural steelworks in the United Kingdom and rest of Europe. Founded in 1989, and now led by CEO Mark Smith, the company employs 361 people and with the company’s market cap sitting at GBP £31.33M, it falls under the small-cap stocks category.

BILN’s stock is now trading at -58% below its intrinsic value of £6.05, at the market price of UK£2.55, based on my discounted cash flow model. The mismatch signals a potential chance to invest in BILN at a discounted price. Additionally, BILN’s PE ratio is trading at around 8.93x relative to its Construction peer level of, 11.65x implying that relative to its comparable company group, BILN’s shares can be purchased for a lower price. BILN also has a healthy balance sheet, as current assets can cover liabilities in the near term and over the long run.]

[ansc] 19/3/2018 10:50

Just over a week to go before the annual results announcement (27th). If my twice-weekly drive past their Bristol Structural Steel depot is any guide - still plenty of loaded HGV trailers waiting to be dispatched each time - the figures could be tasty.

I've noticed just recently that the Market Manipulators have now reduced their ridiculous spread of 16p to a more realistic 11p (257/268p), I could be tempted at that if the results are as good as I'm hoping.

[ansc] 08/3/2018 12:38

A 16p spread online these days (252/268p or 6.3%), do the Market Manipulators seriously want investors to trade or not? I don't mind them having their usual 'pound of flesh' but I refuse to give them a limb as well!

[ansc] 12/2/2018 19:00

For those BILN investors of a nervous disposition and sat on the edge of their seats chewing any fingernails left after last week's market gyrations, I'll re-post a post made following the trading statement last month:

[The Board is pleased with the progress made across the Group in 2017 and the year end results are anticipated to be in line with market expectations.]

'in line with market expectations'; should we interpret that as what the company broker is forecasting? If so, W H Ireland have predicted pbt of £4.6m, eps of 30.1p and divi of 12.0p per share.

If there has been any 'significant' change in circumstances since then, the company is required to notify the market immediately. In the meantime, I'll carry on adding quietly as and when the situation arises.

[ansc] 08/2/2018 14:33

Just got back after a few days away so missed all the excitement early in the week; relieved, of course, that the world isn't going to end (as some seemed to think on Monday/Tuesday) simply because a grossly overbought Dow suffered a long overdue correction. Such a panic-stricken reaction always makes me wonder why some are dabbling in stocks and shares at all!

On the subject of that controlling interest held in BILN, it took me a long time to initially invest here because of it (I've come unstuck twice previously) but, having spoken at length to the company on the subject, my fears were calmed and I've been adding steadily since. It also helps that they've got one of their structural steel depots a couple miles down the road from my house and have been able to witness for myself how busy it's been.

[sailing john] 05/2/2018 17:12

Always worth remembering that the Non Exec representing the interests of 60% shareholders bought shares for his own personal account last year at £2.44 and £2.59

[cockerhoop] 05/2/2018 16:37

I concur with Rhomboid that their Agm comments regarding buyout appeared genuine - that's not to say the situation is holding the share price back a little. It appeared to at ASY for a number of years before investors relaxed and it re-rated.

MRF why do you perceive the risk of a cheap buyout from a large controlling interest here is greater than say..........pulls random EPIC out of hat with large controlling stake..........HSD Hansard Global for example!

[rhomboid] 05/2/2018 12:46

I’ve discussed this issue with the BoD , the Chairman said look at the ages of the major holders, we’re more likely to be sellers of the Business than buying it out. I believed him fwiw , I also held Avesco and there are certain things here that resonate with them quite strongly

[sailing john] 05/2/2018 12:39

MRF - Avesco
SP circa 300 sold for 650
Exec Chairman held just under 30%

[my retirement fund] 05/2/2018 12:00

Everycase is of course different although I cant think of a case in example which you allude too Sailing Jon.I know plenty of examples where controling directors have cart blanche to rinse the company for all its worth as shareholders stand hopelessly by and have ti watch.BISI is an excellent example where aside from the gauling renumeration tab, the company has been forced to make eyewatering loans for free to connected private companies.

[sailing john] 05/2/2018 10:34

MRF in my experience where you have a small group or an individual with a controlling interest then a take out is easier as effectively a done deal and these are usually at a considerable premium especially where there is a very strong balance sheet. Anyway each to their own.