Castings Share Discussion Threads

[essentialinvestor] 06/3/2015 06:16

Ah understood.

[redartbmud] 05/3/2015 22:41

EI

I think that Linhur means Exec Chair to Non-Exec Chair from the wording of his post, and as a result his workload will diminish, as you would expect. But I don't think for one minute that he will not know exactly what is happening in the factory before it even happens!

red

[essentialinvestor] 05/3/2015 22:15

Linhur, that is incorrect.

Brian continues in the role of Chairman as well.

[linhur] 05/3/2015 21:33

Chairman has quietly moved from exec to non exec, so I expect he wont be making many more early morning factory visits to see who is fast asleep! Still look a steady bet in difficult markets.

[thorpematt] 05/3/2015 20:46

Indeed they obviously have a better broker than me.

Tricky to get stock at the right price I am finding.

[essentialinvestor] 05/3/2015 17:36

Ruffer increasing position.

[apad] 29/1/2015 09:00

So does my Mum, she is likely to increase CGS, but wants some blood on the european streets first.
There was an insider purchase at 399p in Jan, but it was a token amount I believe.
apad

[meijiman] 29/1/2015 08:49

I cannot argue with you on the knowledge front. But I like the way Cooke tends to underpromise and over deliver in his statements. Rating not too punchy for the numbers on offer. Cars and general automotive looks to be a decent growth space. I like these unfashionable companies!

[apad] 29/1/2015 08:30

It's relative, meij. Steel castings are much more difficult than ductile iron because of phase changes on solidification.
I remember them trying to be sold computer modelling of runner and riser designs - the only computer they had at the time was a PC in accounts. I was impressed at the company's self-assurance and confidence in what it needed.
My Mum has CGS in her income portfolio.
apad

[thorpematt] 28/1/2015 14:58

I concur.

double bottom on the chart perhaps too?

[meijiman] 28/1/2015 11:10

Disagree -there is plenty of tech in the company. Alot of the production knowledge is black art -very difficult to enter this market without this knowledge and skillset.Think cars and trucks is booming. so i'm a big fan of this company and its conservative management.

[apad] 05/1/2015 13:07

EI: loads of PRV and HLMA in your Dad's portfolio then?

red:
My touchstone is that CGS are low-tech and depend (ultimately) on consumer stuff, like cars. Now is not the time.
apad

[redartbmud] 05/1/2015 13:03

APAD

I think Cgs has laid a few off recently. Still trying to ascertain the extent.

red

[essentialinvestor] 05/1/2015 12:55

Well the last time I looked it was sub 1.70, oh dear ).

[apad] 05/1/2015 12:34

OT
EI - have you looked at PRV at all?
apad

[essentialinvestor] 05/1/2015 12:28

No rush FWIW, just my best guess.

[apad] 05/1/2015 12:05

It's being relatively resilient cf the oil dependent engineers and GDWN, Woody.
Over 3% yield, I'm tempted for my Mum's income portfolio, but not in a rush.
apad

[woodcutter] 05/1/2015 11:19

I've been watching CGS for a while with a view to investing. Interestingly enough i nearly bought several years ago but hesitated and missed the major rise. Anyway the recent drop attracted me again but it's difficult to know if it's at the bottom. Generally it's second half weighted on earnings but the outlook statement at the interims wasn't very positive so it may still have further to drop.

On the upside the drop in the oil price might encourage investment in the truck industry so CGS may benefit from transport sector upgrades.

Watching the chart with a keen eye for now.

Woody

[apad] 14/11/2014 14:14

See Scott's Small Cap column.
apad

[essentialinvestor] 14/11/2014 12:30

Forget the website, this is a very well run company.

Have followed since the mid 90's and held a few times,
from my experience when CGS begins to become cautious it's often an
early warning sign for wider global growth.

There will always be company specific issues,
however even allowing for the Euro area exposure and weakness in this market,
I take notice of what they say.

[thorpematt] 14/11/2014 12:15

Disapointing yet not un-expected.

Not much technical support here for a minute. Solid company of course so perhaps an opportunity for buying in due course....

[thorpematt] 03/9/2013 02:38

Their website is pretty useless (never the best omen).

But ADVFN can help since it tracks the RNS stream:-

[thelongandtheshortandthetall] 02/9/2013 22:39

Hi coolen

Thanks for your reply.
Embarrassingly, I cant find their financial reports. Its not on any of their websites. can you point me in the right direction?

I'll try and look into the cash stash.
accounting shenanigans are an absolute disgrace in my opinion!!

Kind regards
thelong

[coolen] 02/9/2013 22:10

I hold shares in and follow Castings but not MSI.

I am always dubious when a company (such as MSI) claims to have mega cash on the Balance Sheet but where notes to the Accounts show "Interest Received" is actually less than "Finance Costs".

MSI's P&L is worth analysing, but the real nitty-gritty is in the Cash Flow: Interest Received £29/-; Finance Costs £74/- !

Compare the MSI cash flows with those of blue-blooded Castings.

Older analysts amongst us will remember Spring Ram, the kitchen supplier, which fooled PIs, and even some analysts, with thinly-disguised balance sheet tactics at each half-year. No way am I suggesting that MSI is up to those tricks, but always worth looking at the small print when companies claim to be swamped with cash.

As I say, Castings is true-blue and has emerged sparkling even after depositing its cash with the failed Iceland banks !

[thelongandtheshortandthetall] 02/9/2013 18:25

If you guys like your samll engineering companies. check out MSI

Also I would be very grateful of anyones opinion of MSI if they would care to share it. I ask here as the MSI thread is very quite

Thanks in advance

Thelong