Low & Bonar Share Discussion Threads

[cc2014] 28/3/2018 10:13

Volume is bizarre. That 30k buy at 59.3525 at 08:00:41 is really strange. They initially tried to buy that 30k in the opening auction and it looked like they were going to have to pay 60.0. It got pulled and they paid 59.35 in the end.

I mean who gets up with the FTSE down like 50pts and the Dow in freefall and first thing pays well over yesterday's closing price. And someone with access to the order book not some PI who's left a overnight order.

Answer is either an idiot or someone who knows something. I'm running with the first as anyone who knew something would be buying far more than 30k shares. It would be nice if the idiot would buy some more and then I could move to the insider information position ;-)

[justiceforthemany] 28/3/2018 09:41

Seemed to be low volume though.
Sterling hold approx 15% here? Gone very quiet. After Fenners LWB must be a takeover target also.

[cc2014] 27/3/2018 16:42

One of the strangest days I've ever seen.

With trade tensions easing and markets rallying one would have though the share price would go up.

Yet today there seemed to be very little buying which ok that happens but it seems some were selling. Arrrrghhhhhh

[justiceforthemany] 27/3/2018 15:39

WTF. Who is selling here? WHAT HAPPENED TO THE ACTIVISTS? Push through a TAKEOVER FFS!

[time_traveller] 22/3/2018 10:01

Thanks - no direct L2 here.

[cc2014] 22/3/2018 09:45

It's been sitting there for days Time_Traveller as had the 25k ish at 59.0

I closed my CFD's in the opening auction at 59.0. I didn't have very many.

Still holding all my shares. No interest in selling them until we reach I dunno 75. Maybe sell a third there.


I'll buy back my CFD's if I get the chance. Think my chances are pretty slim though

[time_traveller] 22/3/2018 09:10

Figured I'd have some of those that appeared on the book at 58.4p. Someones auto-stop loss triggered by the XD?

[justiceforthemany] 20/3/2018 17:02

I just wonder if Mr Simpson felt a Michelin bid was imminent/likely and jumped ship in time? As for Fenner Michelin have paid 6x the book price when you take out intangibles/goodwill, made a loss in 2 out of its 3 last reported results and trades on a P/E of 30. Makes LWB look far more attractive for M&A.

[ed 123] 20/3/2018 12:10

Hi CC2014.
A profit is a profit. The last 2 years have been meteoric for Fenner. I never foresaw that and didn't buy any at all so, even missing the top, you're ahead of me.

Yes, LWB could meet a similar fate. It has been independent for a long, long time and, in its various morphs, has underperformed for a long, long time too.

(I see Michelin have designated one of their own to lead Fenner after the takeover, so that more or less confirms no job for Brett Simpson. From my meetings with him, he comes across well as a CEO and, like football managers, I expect him to land a top job elsewhere.)

[cc2014] 20/3/2018 11:29

I bought FENR at 196 and sold at 285 and now it's 615. I thought I did well at the time. Shows what an activist investor can do. Hope the same happens here.

[ed 123] 20/3/2018 09:29

It's a very quiet morning here, with no recorded trades so far.

Different story over at Fenner, where Brett Simpson was due to take up the role of CEO on 1st May. After hours yesterday, Fenner reported an agreed takeover by Michelin. I guess Mr Simpson will be compensated for what is likely to be his loss of office? Unlucky timing for him, as I doubt that he has any equity in Fenner yet. Oh well, you can't lose what you never had .... though it must feel like a loss.

Meanwhile here, Philip de Klerk will be analysing, preparing for the agm and q1 update on 13th April.

[cc2014] 12/3/2018 16:00

And Luxempart pick up another 3m as well since late December.

I can see Sterling and Luxempart are working in unison although I don't believe there is a legal connection.

[cc2014] 12/3/2018 15:19

Sterling add another 3m shares since early Feb when they declared 14%. Now at 15%.

Doesn't account for what the counter-party to the 8m is yet though.

[time_traveller] 09/3/2018 23:37

Surely with a trade of such size, a seller is matched with a buyer, so whether it's a buy or a sell is irrelevant?

[justiceforthemany] 09/3/2018 19:24

Finished up on the day after an apparent 8.7M share sale - bizarre. Surely a fund/institution. I would ask the CEO why the company is not being promoted more and why funds/institutions seem to be selling rather than buying even with such a low P/E and target price of 90p+

[justiceforthemany] 09/3/2018 12:06

The share price barely moved though so can we be sure it was a sell? Massive trade like that.

[cc2014] 09/3/2018 11:24

The timing of the trade is interesting in that the markets picked up dramatically yesterday on Draghi's words at the ECB. The trade I assume is delayed from yesterday and so I also assume we will see other trades to match part or most of it later.

Let's us hope that whoever was selling at 60 is finished now or at least we reach the point where they don't have many left.

[ed 123] 09/3/2018 10:55

Yes, about 2.6% of the issued share capital in that one trade.

The share price was around this level (60/61p) when Strategic last increased, so they're unlikely to be the sellers. Maybe they will pick up some (all?) of this parcel?

Anyone going to the agm?

[cc2014] 09/3/2018 10:24

Massive 8.752m trade prints at 60. Must be further trades to follow I'll do some research.

[justiceforthemany] 07/3/2018 21:56

Trading at just 9x earnings possibly as low as 8x. Dividend covered 2x. Trading around book price. Surprised no bid has come in.

[justiceforthemany] 07/3/2018 16:45

Ex-Dividend 2 weeks away now
2p/share
Yield >3%
I would hope some LARGE buys start coming in

[cc2014] 01/3/2018 12:19

OMG the bid is above 60 and has been for 3 hours and no selling coming through.

I assume this is in response to the fall in cable but I also see stocks which have no foreign exposure ticking up a bit too. They are not taking out the offer yet but the prices are moving up with spread closing due to a higher bid.