Castings Share Discussion Threads

[essentialinvestor] 20/11/2012 10:47

city, this is a fantastic company managed by a CEO who is one of the very best.

However you need to look at earnings across the cycle, it is a cyclical
business.

[citymohawk] 11/10/2012 12:58

justified my target for CGS on VALU thread.

[citymohawk] 10/10/2012 21:12

nice company people. please join me on the VALU thread if you have any other such companies to share info about. Would be great to hear.

CM

[bluebelle] 21/9/2012 08:29

Closing price on July 24th was 308.5. Looks like this well run company decided not to wait for you.

[tramsteer] 24/7/2012 10:30

Castings looks like a well run company but not good value at the moment, but it will be on my watch list.
John at Tramsteer

[bluebelle] 21/6/2012 08:12

Much better worded this time round !

[bluebelle] 02/3/2012 08:59

It ain't what you say, it's the way that you say it ! Quarta's statement is really no different from CGS's but better expressed and got a better reception.


Roberto Quarta, Chairman of IMI, commented:

"IMI has delivered another strong set of results in 2011 with good growth and record underlying profits, margins and earnings. In light of this performance, and our confidence in the future prospects for the business, we are pleased to propose an increase in the full year dividend of 15%.

Whilst the global macro-economic outlook remains uncertain, we are committed to our well defined plans to drive strategic convergence, accelerate future growth, deliver further margin improvement and make greater use of our strong balance sheet in delivering value enhancing acquisitions.

Based on current market conditions we remain optimistic that the Group will make further progress in 2012."

[bluebelle] 16/2/2012 14:29

EI
Yes I am, in my core portfolio, as long as I'm happy that the underlying story is intact, but that's not to see that I'm averse to selling on weakness to protect gains : I sold AVON recently, which has done very well for me, as, rightly or wrongly, I found the comment about possible US litigation, unsettling even though the basic commercial story is still very much intact and I might well buy in again at some stage.
I would draw a distinction between managing a portfolio actively - i.e. paying close attention to it and acting quickly when you think things have changed - and trading, which all too often means over trading.
I think the key thing is to find something which suits your style and works for you. Also, I try to buy stocks with a reasonable dividend and a progressive dividend policy, so there's some underpinning of the portfolio in terms of income.

[essentialinvestor] 16/2/2012 12:07

Bluebelle I assume you must be able to live with a good degree of
volatilty, as some of those holdings tend to get sold off sharply on
market falls, the reverse also applies of course as per the last few months.


CGS is a very good early warning of any weakness in the global economy,
have followed CGS over about 20 years.

[bluebelle] 16/2/2012 10:14

ed
On the contrary, I rate DPLM very highly : seems to tick all of my boxes : I'm not sure why I've never bought it, maybe just because you can't hold everything ! I try to limit my holdings to a manageable number and, as long as I'm happy with what I hold I try not to churn : maybe I've just overlooked it when I've been rebalancing the portfolio - I'll go and have a more detailed look now that you've mentioned it !

[bluebelle] 15/2/2012 11:30

bbd
'Mate poys' ! Love it ! Spent quite a bit of time in the West Midlands myself many moons ago - only g back for the cricket from time to time now. I do like the Brummies even though it's easy to ttp out of the accent !

P.S. 'Doyve', surely ? !!!

[madmix] 15/2/2012 11:10

Many thanks for your thoughts Bluebelle.

"My strategy is based on my view that we're probably in for a short term correction, but that the bull market still has further to go"

Yes, I share this view. As such, I will probably look to gradually buy in to solid stocks on dips rather than splash the cash too quickly. I agree that companies that have grown their market share and generated cash during the downturn will do well as economies recover.

Who knows, I might even buy some of these stocks for my own portfolio!

[bluebelle] 15/2/2012 10:56

Mix
Don't like giving advice (pride goeth and all of that), but for the last couple of years I've been focusing on companies (regardless of size although as you point out many are mid caps) with solid fundamentals (my selection criteria being derived as much as anything from Jim Slater's Zulu Principle). I have avoided anything which isn't profitable; for the most part anything which wasn't paying a dividend – preferably progressively – but most of all have focused on cash : how much they have; how much they are using and, particularly, cash flow – any company which has been highly cash generative in the last couple of years has something going for it. I also look for companies operating in growth markets.

In my main equity portfolio, I don't really trade. I buy momentum and generally hold until anything changes – I recently sold AVON for example, which is a quality stock and had done very well for me, because of doubts over legal action in the US. In the medium term it will, I'm sure, come good because the basic story is good, but I have found that one of the best ways of making money is to position yourself aggressively when the market is rising and I suspect AVON will drift a bit on the news.

What to buy at current prices is always a tricky one – I'm a great believer in the old economics adage that the most difficult thing to work out is where we are now! My strategy is based on my view that we're probably in for a short term correction, but that the bull market still has further to go so I'd be happy adding to any of my holdings, starting with CGS and, e.g.
GKN, IMI, BOY, CSR, DNO, FENR, FLTR, GFRD, HLMA, MRO, OXIG, SXS, KFX.

If I had to pick one, it would probably be MRO ( I added recently). If I had to pick 2 the second would be OXIG. For a long term hold in an ISA, maybe HLMA because of the progressive dividend policy.

[bigbigdave] 15/2/2012 10:37

Spent Uni days in Brum Bluebelle.
I was known as 'Dive' and the locals ate 'Mate Poys'!

[bluebelle] 15/2/2012 10:33

EI
Yes indeed. If you read between the lines in a dour Birmingham accent - and know the nature of the beast - this is a positive statement and a buying opportunity in my view. I would read the statement 'We's doo in all roight roilly, but if the rest of the world gows to ell in an andcart, sow will woi' !!!

[essentialinvestor] 15/2/2012 10:07

Brian tells it like it is as per usual.

[madmix] 15/2/2012 10:04

Hi Bluebelle,

Ok, I'll talk to you. Might be slightly off topic though!

I note from various boards that you're mostly keen on solid midcaps. I'm looking to build a portfolio for a family member, and am therefore planning to tuck away a few ISA eligible stocks in due course.

If you were starting with a pot of cash today, which of your stocks would you favour buying at current prices? I should point out that I'm a fairly experienced investor, so I understand that stocks can go down as well as up in the medium term. :-) However, my expertise and portfolio is generally in the small cap and Oil E&P field, so I'm trying to widen the net.

Cheers if you have time to give your thoughts.

[bluebelle] 15/2/2012 08:42

Oh really? I wouldn't worry about it if I were you.

[bluebelle] 15/2/2012 08:41

Oh, I don't know, just a feeling I have from time to time

[bluebelle] 15/2/2012 08:41

Oh really ? Why's that then ?

[bluebelle] 15/2/2012 08:41

I sometimes get the impression I'm talking to myself on this thread.

[bluebelle] 11/2/2012 09:30

Written up very positively - along with MRO - in Money Week - this weekend.

[bluebelle] 07/2/2012 14:23

: 9658W

Castings PLC

07 February 2012

CASTINGS PLC

NOTIFICATION OF MAJOR INTEREST IN SHARES

We have been notified that Delta Lloyd Asset Management N.V. have an interest in the voting rights of 5,549,018 shares in the company. Their holding represents 12.72 per cent of the issued shares.

S J Mant - Director and Secretary

Castings Plc, Lichfield Road, Brownhills, West Midlands, WS8 6JZ

[wjccghcc] 28/12/2011 18:10

I think their main client is Volvo.