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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Renold Plc | RNO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.30 | -0.62% | 47.80 | 09:27:43 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 48.00 | 47.80 | 48.00 | 48.10 |
| Industry Sector |
|---|
| INDUSTRIAL ENGINEERING |
| Top Posts |
|---|
Posted at 17/4/2024 16:34 by davidosh The share price is on fire this afternoon....Is that linked to the Signet investor site visit I wonder?Any reports from on site? |
Posted at 15/4/2024 12:24 by sausage7 Thanks for the note Essential. What I am driving at is the rating on this company and many others which investors ascribe. There has been a general derating on UK listed companies making them vulnerable to take over/take private. Renold which is clearly having a renaissance in its fortunes is a victim of this investor neglect. Let’s hope we and they continue to make progress. |
Posted at 12/3/2024 21:52 by pj84 I have previously posted the post below that I made on the Wincanton thread before the recent takeover and whenever the next triennial review of the Renold pension fund happens I expect we will see that the pension issue has disappeared or significantly reduced.I continue to believe Renold is undervalued and am more than happy to continue to hold. PJ84 26 Sep '23 - 09:01 - 2492 of 2543 Edit some excerpts from the article: - "It was the stock market surprise of the week: Wincanton, the trucking company, delighted investors on Wednesday by announcing that its staff pension scheme had dramatically swung back into surplus for the first time in decades. The company would not now have to make previously promised contributions to the scheme of about £25 million a year for the next four years. And it was immediately released from restrictions on how much it could pay shareholders in dividends." ..... "Like many UK companies with long histories, Wincanton had been the prisoner of defined benefit pension promises going back decades. It has a market value of about £400 million but until recently its pension fund was three times bigger with about £1.2 billion of outstanding promises to 12,800 current and former lorry drivers and warehouse workers." |
Posted at 12/3/2024 10:15 by davidosh I do not think the pension defecit is a problem and it was very well covered on the show...I think the issue is more that potential investors see it as a problem. Wincanton which also had a sizeable pension defecit has received multiple bids so clearly not a problem at all if being absorbed by a much larger entity.The end result was that 64% of the audience rated Renold a Buy with 4% stating Sell, another 4% Avoid and 28% voting to Hold. |
Posted at 20/1/2024 03:04 by pj84 Felix 99 I am a shareholder in Wincanton and posted this about the pension fund on 26 Sep 23."hTTps://www.thetime some excerpts from the article: - "It was the stock market surprise of the week: Wincanton, the trucking company, delighted investors on Wednesday by announcing that its staff pension scheme had dramatically swung back into surplus for the first time in decades. The company would not now have to make previously promised contributions to the scheme of about £25 million a year for the next four years. And it was immediately released from restrictions on how much it could pay shareholders in dividends." ..... "Like many UK companies with long histories, Wincanton had been the prisoner of defined benefit pension promises going back decades. It has a market value of about £400 million but until recently its pension fund was three times bigger with about £1.2 billion of outstanding promises to 12,800 current and former lorry drivers and warehouse workers." As it happens they jumped 50% today on an agreed bid for the company. |
Posted at 17/1/2024 22:38 by pj84 Agree and if, as it looks like, it is a single purchaser, then 15.75m shares is about 7% so a very sizeable addition to an existing shareholder or a significant new investor, either way would expect to see an RNS soon. |
Posted at 11/12/2023 17:53 by davebowler Master Investor-Renold (LON:RNO) Not A League To Go Yet Just over a month ago, when the shares of this Wythenshawe, Manchester-based engineered products maker were down at 29p, I set a new Target Price of 36p. The recently announced Interim Results brought about profit estimate upgrades. Analyst David Buxton at Cavendish Capital has fixed a 38p Price Objective on the group's shares. He is looking for a small step back in sales for the current year to end March 2024, from £247.1m to £244.3m. However, he is expecting an increase in adjusted pre-tax profits to £19.2m (£18.6m), with earnings rising fractionally to 6.0p (5.9p) per share. The group's shares, which touched 35.59p last Thursday, closed on Friday night at 34.45p. I have absolutely no concerns about my latest Target Price being achieved very soon, possibly within days. (Profile 04.06.19 @ 30p set a Target Price of 60p) (Profile 08.11.23 @ 29p set a Target Price of 36p) |
Posted at 15/7/2023 17:13 by davidosh Just to let shareholders in Renold and potential investors know that the company results and the investment case for this company will be fully analysed by the BASH panelists on the Mello Monday show this week.Monday 17th July 2023, 5 pm – 9pm 5:00pm Mello welcome and keynote presentation by Fatima Iu of Polar Capital 5:30pm Company presentation by Windward 6:00pm Company presentation by FADEL 6:40pm Stephen Clapham presents Behind The Balance Sheet 7:00pm Company presentation by React plc 7:30pm Company presentation by NASCIT 8:10pm Research and Regulatory changes, Gareth Evans of Progressive 8:15pm Mello BASH |
Posted at 20/2/2023 10:53 by thirty fifty twenty hi all...for me RNO is a very likely take over candidate. i think any bid wold be at >40p+ and thus even if it happens on the last day of my 3 year time horizon, it will yield to me my portfolio target of 15% per annum. my reasoning... I think the stock market has valued RNO 'reasonably correctly', is has moderate debt and a low share rating and thus despite being no 2 in an industry ripe for consolidation does not have the currency to do so. secondly, the pension is a small theoretical risk. i trust the actuarially profession and calculations but thus by definition of the long term agreement the company will always have to 'overfund' to support the most conservative sceario. in reality this 'overfunding' will return to the company but only when the pension scheme winds down and thus that return is vaued very lowly by the market. lets take these 2 risks if exactly the same business was part of a bigger business. 1 - those same profits £30m fcst ebitda profits (less the agreed £6m to pension) would be valued at 10 times in a multinational engineering business, and there could even be a premium rating as there was a chance for the number 2 player to consolidate a key industry as global manufacturing on-shores. 2 - firstly the 6m agreed is less material to a multinational thus it carries less risk, and secondly the longevity of a stable multi nationals is seen to be 'forever' as it is diversified and can continually re-invent itself to be around decades ahead. thus any 'over cautious' funding to the PF required by the conservative actuarial calculations is not 'wasted' CASH but just a long term savings plan. thus to me the bid premium for RNO would be much higher than the average 35% typically seen in the market. indeed - smaller cap UK bids this last 18mths have averaged 50% premiums. the other side is that if RNO can get some momentum then the returns as a solo business will be greater. so an investor and risk/reward is see this as win/win bid scenario is 15% per annum over 3 years (maybe earlier), RNO pulls it off sees 20% share price growth compounding over 5 years, my downside is that the RNO make a mess, and i see this as quite low risk given the skill they have demonstrated to restructure and grow through the pandemic and pre. All IMHO, DYOR + BoL RO is in my top5 hldgs |
Posted at 07/2/2023 09:30 by prokartace This share is now massively undervalued. Nothing but good news coming from the company but the share price has been totally unable to make a sustained rise. It is worth more than double the current price and that would still leave it on a single digit PER. If you consider the progress in improving margins and cutting costs over the last 5 years . I don't think institutional investors have noticed. 2018 the company had revenues of £191 million and a loss of £2.2 million. 2022 similar revenue of 195 mil and net profit of £10.2 milThe outlook should show growth in revenue and profit. Order book including the new contract should be up over 10% this year, so in spite of inflation this company is growing |
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