Share Name Share Symbol Market Type Share ISIN Share Description
Ocean Wilsons (holdings) Ld LSE:OCN London Ordinary Share BMG6699D1074 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  15.00 1.7% 895.00 3,415 13:10:43
Bid Price Offer Price High Price Low Price Open Price
890.00 900.00 895.00 875.00 875.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 258.04 54.55 80.09 11.3 316
Last Trade Time Trade Type Trade Size Trade Price Currency
11:24:38 O 50 899.70 GBX

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Date Time Title Posts
18/3/202114:42Ocean Wilson - alltime high1,383

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Ocean Wilsons (holdings)... Daily Update: Ocean Wilsons (holdings) Ld is listed in the Industrial Transportation sector of the London Stock Exchange with ticker OCN. The last closing price for Ocean Wilsons (holdings)... was 880p.
Ocean Wilsons (holdings) Ld has a 4 week average price of 837.50p and a 12 week average price of 815p.
The 1 year high share price is 895p while the 1 year low share price is currently 515p.
There are currently 35,363,040 shares in issue and the average daily traded volume is 18,340 shares. The market capitalisation of Ocean Wilsons (holdings) Ld is £314,731,056.
varies: Last of the Mohicans. How time flies. I had not realised that it is nearly ten years since OCN's share price hit £14. Even if one added back the dividends received during this period, one would probably be showing a loss on any shares bought at £14 ten years ago, certainly in real terms if not nominal. Let us hope the next ten years prove more profitable for us outside shareholders than the last. I fear like Pugugly that I shall have passed on before the value gets unlocked but I shall enjoy my dividends.
pugugly: "Net Asset Value At the close of markets on 31 December 2020, the Wilson Sons' share price was R$45.30 (US$8.73), resulting in a market value for the Ocean Wilsons holding of 41,444,000 shares (57.77% of Wilson Sons) totalling approximately US$361.5 million which is the equivalent of US$10.22 (£7.48) per Ocean Wilsons share. Adding the market value per share of Wilsons Sons of US$10.22 and the investment portfolio at 31 December 2020 of US$8.77 results in a net asset value per Ocean Wilsons Holdings Limited share of US$19.00 (£13.89). The Ocean Wilsons Holdings Limited share price was £8.45 at 31 December 2020." No sign yet of value being unlocked for shareholders. Bid/offer pre open 810/820. Must be one of the bigget discounts in the market - but most of us may well have passed on before it gets to parity.
last of the mohicans: EezyMunny No, I'm sorry but you need to understand the company and its financials much better. I never said anything linking EPS with the company's value (actual or even possible value). EPS are linked to dividends, its unsustainable for a business to be earning less than it is paying out in dividends, yes it can be smoothed out for a short period of time, but that's as far as it goes, after that you're building up major problems. Varies, the fact they farm out the management of the portfolio is part of the problem, if they actually gave the funds to groups capable of making money, we might have a decent sized portfolio by now, the fact they haven't means it's money effectively doing nothing for OCN shareholders but keeps their coy setup going I think the share price high was in 2011 actually, so 10 years of serious under performance, same for Hansa Trust. (You'll have noted that the trust has a lot of the same holding as in the OCN portfolio itself). As I said if it wasn't for the one investment they've got right - Findlay Park American (FPA), the whole shareholder base would be up in arms about it all ! They even sold FPA twice, (once I think fully) and then bought them back (not as many as we had originally) if they had the holding would be worth north of $35M right now. However that would cause them a problem in itself as it would be near or at the upper limit of the amount they are allowed to have in one particular fund! They've never found other investment to properly complement FPA and thus grow at a similar sort of rate or one that we could describe as acceptable and thus not require FPA to be reduced to stay within the limits. What was meant to happen from 07/08 as part of shareholders agreeing to the Wilson & Sons float, was that some of the fund would be paid out in dividends, until they realised within 3 years that that wasn't sustainable given all the $ Millions that were being lost in management fees. Not for out performance, but mediocre results at best. What I find amazing is the graph's they produce each year as to the funds performance and it always refers to a certain index, well if they'd just invested in that index or mimicked it for the last 10 years, the value of the portfolio would be multiples of what it is now ! but none of them are smart enough to have worked that out ! LOTM
varies: Lasr of the Mohicans, I agree with almost every word you say. The present generation of Walter Saloman's descendants lack his acumen and it is just as well from our point of view that management of the portfolio is farmed out. We do indeed suffer a double helping of charges on this. To my mind this unsatisfactory situation is allowed for by the share price but I appreciate that others may think it is not. The reference to an all-time high in the title to this thread is some 6 years out of date, I believe, and we would obviously all have done better to sell at £14 when we could. My holding here goes back to the 1980s and I now receive back year after year the capital invested as a dividend : a yield on my cost of about 100%. So I have a sentimental attachment to OCN which may cloud my judgment.
eezymunny: LOTM The EPS numbers aren't a great guide to putting a value on OCN IMO. EPS swings wildly with exchange rate. You need to work harder...
last of the mohicans: varies, The investment portfolio is only there to give jobs to the controlling families children, grandchildren and relatives etc Ocean Wilson's pays its directors to manage the investment fund (which they created for there own purposes). They then passed it on to Hanseatic I think it was, but might have been renamed now, who ran the Hansa Trust etc, which is why they have control of OCN. We pay several £ million a year in fees to have the investment portfolio managed by them and all they do is pass it on to other's to manage on there behalf where we end up paying a 2nd lot of fees which for the private equity managers will run in £'s in the so called good years The portfolio, takes very few risks and is just a mirage, yes there are 40+ holdings which is designed to impress you at first sight until you realise that anything below the top 15-20 has no purpose at all (other than window dressing). They could all double in price and it would hardly affect the value of the portfolio ( and it couldn't happen anyway as some or designed as long-only, other short only, other's neutral) Its there just to keep the extended family employed with salary's they wouldn't get in the real world. If it hadn't been for the performance of Findlay Park American fund over the last 10 years there would have been a total outcry from shareholders about the non-returns that were occurring I thought the Private Equity investments would change things, but they haven't, they haven't choosen the managers wisely and on top of that the sums of money there investing in each one are far to small to generate a meaningful return should they succeed. LOTM
varies: Last of the Mohicans Brazil is indeed in a sorry state with terrible Covid numbers. OCN's investment portfolio does, however, provide some protection from a downturn at Wilson Sons. This portfolio seems to be rather cautiously managed, being spread amongst many funds and hedged to some extent against a fall in the US stock market. This policy has not paid off recently. Whilst accepting that next year's dividend looks insecure, I believe that OCN will provide a good yield in the medium term.
varies: pockstones It is difficult (and gratuitous for us as outsiders) to tell what might be in the best interests of the Saloman family but I expect that they and their advisers are well aware of the tax implications of any steps they might take to realise the value of their holdings in OCN and Hansa. I do agree, however, that this is a factor in considering the attractions of OCN shares. Under the present arrangements the older members of the family can take comfort in knowing that their children's and grandchildren's fortunes are securely invested whereas cash raised might be readily spent, perhaps with disastrous effects. The annual dividend that I receive is well over the price I paid for my shares and is always very welcome when it comes. I believe that there are few safer investments on this yield.
henchard: Discount 47% right now. Historically high? hTTps:// "UK value stocks #2 Another business I’d be happy to buy a slice of is Ocean Wilsons Holdings (LSE: OCN). This one is listed on the FTSE main market, and has a capitalisation of £241.4m. OCN has a controlling 58.16% interest in Sao Paolo-listed Wilson Sons — one of the largest providers of maritime services (towage, container terminals and so on) in Brazil. OCN also has a portfolio of around 80 international fund investments (e.g. Findlay Park American and Adelphi European Select Equity). Based on Wilson Sons’ latest share price, and current exchange rates, OCN’s interest in the business can be valued at £243.4m. This is equivalent to 688p per OCN share. Meanwhile, the value of its investment portfolio last reported (31 October) was £211m, or 597p per OCN share. Therefore, the sum of 688p and 597p gives OCN shares an intrinsic value of 1,285p. Yet they’re trading at 682.5p — an implied discount of 47%. Put another way, OCN shares buy you Wilson Sons at a small discount to its price on the Sao Paolo stock exchange and you get the £211m investment portfolio thrown in for free. My calculations suggest OCN is another top value stock on the UK market."
jane deer: If Wilson and Sons pays out a regular 54 cent dividend in the spring for FY20 (and its recent reinstatement of the full dividend 54 cents for FY2019 must be a sign of confidence), then presumably OCN will pay out another 70 cent dividend in June. If that were to happen, current shareholders will receive back $1.10 (40c in Dec plus 70c in June) or 12% of the current share price in the next 7 months.
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