Bodycote Share Discussion Threads

[mistertibbs] 25/4/2008 22:01

chris, as well as FKI, also IMI allegedly being watched by Honeywell I think it is. I'm also in another small engineer in RNWH and apart from the last two days, has also had a good wee run.

[chris1604] 25/4/2008 17:14

Charts looking very good for this, not sure about volume

[ttjohnson] 18/4/2008 22:30

Oh well - had to pick a share to fill this years share ISA with - and this one was my choice, based mainly on the takeover possibilities but also the recent steady rise and the probable share buy-backs.

Oh yes - and this is normally a quiet board, which is a big plus !

[chris1604] 17/4/2008 15:51

This has ticked up nicely over the last few weeks. Is it FKI related, sector re-evaluation?

Anyone any ideas

[drectly] 11/4/2008 06:14

Mid-caps steal the limelight
By Neil Hume and Robert Orr
Published: April 11 2008 03:00 | Last updated: April 11 2008 03:00
Mid-cap engineering stocks bucked the weaker trend in the wider market yesterday.

Bodycote , the thermal processing specialist, rose 4 per cent to 203¾p, while IMI , the world's largest maker of pneumatic controls, added 3.5 per cent to 468¾p as investors took a second look at the sector in the wake of a bid approach for Enodis .

Shares in Enodis, a maker of catering equipment, soared 51.8 per cent to 230p as the market responded to news that US rival Manitowoc had tabled an indicative cash bid of 260p a share.

"Manitowoc's approach to Enodis provides further evidence that strategically sensible mid-sized acquisitions can happen despite current credit market difficulties," said Andrew Carter, analyst at Landsbanki.

"It suggests that investors should not necessarily take profits in the capital goods sector despite recent weeks of strong share price performances," he continued.

from FT, bit of explanation why we ticked up yesterday

regards drectly

[drectly] 10/4/2008 17:57

Manitowoc's approach to Enodis provides further evidence that strategically sensible mid-sized acquisitions can happen despite current credit market difficulties and suggests that investors should not necessarily take profits in UK Capital Goods sector names despite recent weeks' strong share price performances.

Names to consider are: Bodycote (NR, of interest to Swiss-listed pumps manufacturer Sulzer AG, according to its CEO just the other day), FKI (H, might Melrose's low-ball proposal be trumped?),

IMI (NR, rumoured to be a target for US multi-industrial Honeywell, though we remain a little sceptical), Invensys (B, surely the world's lowliest valued global automation company) and potentially Morgan Crucible (B, the recipient of interest from various undisclosed parties in August 2006 at a price rumoured to be up to 350p).
NH: I don't agree with all of that

NH: for example, don't think there will be a counter offer for FKI

NH: I reckon there is only one bidder

NH: Melrose

NH: and they will move soon

NH: once the underwriting for their rights issue is in place

NH: I also believe that Honeywell has been crunching the numbers quite aggressively on IMI

NH: and a deal could happen one day

NH: that said, I think Mr Carter could be right on Bodycote

NH: after all did you see the comments made by the boss of Sulzer the other day?

NH: here they are

NH: CEO Ton Beuchner, said that Sulzer is still interested in making acquisitions, particularly in Europe and North America. In particular, Sulzer' interest in Bodycote (NR) is (we quote Bloomberg) "not 100% off the table".
NH: and don't forget

NH: Sulzer approached Bodycote with no less than six bids between January and April 2007, with the final rejected indicative offer at 342p (plus a 4.5p dividend)

From Ft discussion board, drew attention to the fact Sulzer could still return, may have been reason for a bit of activity today

regards drectly

[pobpob] 10/4/2008 14:56

nah.. think it must of been tipped somewhere

[milacs] 10/4/2008 09:46

T/O approach a possiblity?

M

[drectly] 10/4/2008 08:46

Stormy
not sure how much profit overseas, but anything from Europe / Asia will help back into pounds, the states not much recent change.
? someone is buying, who and why
May just be a fund seeing a bit of value and adding

[onlyonestorm] 10/4/2008 08:34

Could it be that if being paid in Euro's would improve margins on larger contracts, just a guess!!

Stormy

[drectly] 10/4/2008 08:17

Bodycote International plc Mulls an Equity Buyback
03/28/2008
On March 28, 2008, Bodycote International plc announced that it will seek shareholders approval to initiate a share buyback program in the Annual General Meeting to be held on April 30, 2008. Under the program, subject to approval, the company will repurchase up to 32,164,822 ordinary shares being 10% of the Company's issued ordinary share capital at December 31, 2007. The maximum price which may be paid for any such share is an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is contracted to be purchased. The minimum price which may be paid for any such share is 10 pence. The authority shall expire at the close of the next annual general meeting of the Company to be held after the date hereof unless such authority is renewed prior to such time, but a contract of purchase may be made before such expiry which will or may be executed wholly or partly thereafter, and a purchase of shares may be made in pursuance of any such contract.

not news this morning, but I had not seen before

regards drectly

[drectly] 10/4/2008 08:10

the same, cannot see reason but very welcome if it helps the upward trend

[pobpob] 10/4/2008 08:04

anyone know the reason for the rise this morning? broker upgrade maybe? newspaper article?

[chester3] 27/3/2008 10:32

Just pleased somebody else has noticed strong support.

[masurenguy] 27/3/2008 09:23

Seems to be heading in that direction !

[pobpob] 14/3/2008 13:20

yeh rise above £2 would be nice :-)

[wad collector] 14/3/2008 12:43

|Let us hope those 800,000 nil cost share options for the directors stimulate some growth in the share price

[wipo1] 07/3/2008 15:41

Standard life increasing their stake, looks good for a test on 200p!

[wipo1] 07/3/2008 09:50

Thanks Chris1604, I delayed my purchase until this morning to get a better price, happy to hold for a year or so. Think 220p looks nearer fair value.

[chris1604] 05/3/2008 16:39

Well done Wipo,welcome to our small band of moaners on this bb

[wipo1] 05/3/2008 15:55

A close above 193p today will be very bullish, seems to have stuck there a few times, looks cheap on recent results as well. I am going to buy a few.

[evox] 27/2/2008 22:28

(yesterday)Shares in Bodycote (BOY) tumbled 8.25p to 188p despite the engineer posting a 16% rise in headline pre-tax profits to 81 million pounds on revenues from continuing operations up by 15% to 640.5 million pounds for the year ended 31 December 2007. The company said that demand in its aerospace, power generation and oil and gas markets remained strong, and that trading during the current year has so far been ahead of 2007. "The geographic spread of our operations, range of services we provide and diversity of end markets we serve helped to ensure another robust performance despite weakness in some areas," said chief executive John Hubbard. "Given the strength of the order books amongst our aerospace, power generation and oil & gas customer base and, given our market share gains in the automotive sector, we are confident about the group's prospects not withstanding the uncertainty about the level of consumer demand in 2008, particularly in North America," the group added. The total dividend payout of 8p represents an increase of 14.3% on the previous year.

[jocjoc] 27/2/2008 16:30

The dividend dates I posted are correct

[royaloak] 27/2/2008 16:25

Engineers out of fashion, but these look very good value on a six month view, have bought a few.