Renold Share Discussion Threads

[cambium] 22/10/2013 08:15

About time.

[bigbigdave] 22/10/2013 07:25

Time to resurrect Jonathan's thread, 'substantially ahead' this morning.

[meijiman] 06/9/2013 08:41

To put more flesh on the bones: a main drag, if not the main drag, on the share price has been concerns about the pension deficit. The company's own internal restructuring will go along way to sorting out this issue. Also higher gilt yields plus rising equity markets (7500 anyone?!) will reduce the deficit on the defined pension scheme. This may in fact free up some cash for Renold -so there is a good case for a re-rating even if current trading is not shooting the lights out.

[meijiman] 02/9/2013 16:56

decent rise today. suspect partly linked to the recent cost cutting news and a more optimistic view as to the pension deficit issue. The ceo keeps buying the shares so he must be positive. Has been seen as a possible takeover candidate but think unlikely given that the earnings are highly specific ie making chains can hardly be seen as a prime takeover business. Be glad to be proved wrong.

[bottomfisher] 09/7/2013 09:25

Any pension experts out there who have a view on the outcome of the merger of Renold's three UK pension schemes?

The 2,604 members of the RGPS and J&S were entitled to receive a lump sum on the wind up of their schemes and 1,307 (50.2%) members chose this option.
The 1,297 members who did not elect to receive a lump sum have been transferred to Renold's remaining pension scheme.

Is this a good or bad result for the company?

The company says total liabilities discharged during the wind up will be just under £11.0m, and the net impact of the merger on the Group balance sheet will be disclosed in the Interim Results in November 2013.

[azalea] 05/7/2013 18:19

Similar to EKF, Schroders has inherited Cazenove stake in its takeover of the latter.

[bc4] 18/6/2013 07:22

Yeah 1.5 mil at 25.25p that's over 350.000 pounds worth nearly doubled his holding, he must be confident!

[hastings] 17/6/2013 13:05

Hefty buy from the CEO announced today.

[coolen] 13/6/2013 23:47

I'm told one of the institutions has a "recovery" story.
Sadly, I do not have the details.
Maybe the next % share stake will give a clue.

[betman] 10/6/2013 23:11

Good rise up from 20p, cannot see any specific news. Was this just undervalued as it starts to work through its not inconsiderable issues ?

[azalea] 04/6/2013 06:26

Morningstar data, Three out of four brokers -'hold' one 'buy'.

[puffintickler] 10/5/2013 10:33

My glass is half empty

Or is it half full?

[bottomfisher] 10/5/2013 08:17

Henderson Global Investors continues to reduce its stake (now down to 12.12%) but Cazenove appears to be mopping up the shares increasing its stake to 13.69%. The loyalty of the major institutions, and the substantial investment in RNO shares of the new ceo, gives me hope that RNO's shares have the potential for a substantial recovery at some stage.

[darwenlad] 04/5/2013 20:51

More than a tad worrying to see latest RNS statement showing that Henderson Global Investors, RNO's second biggest shareholder after PRU/M&G, has cut its stake by around 1% to 13.58% since last annual report.Selling shares at close to the recent lowpoint in RNO's share priuce is hardly a reassuring signal ahead of this month's results.

The stability of RNO's institutional shareholders had been one of the few sources of comfort.

[woodcutter] 02/5/2013 19:30

mman

Can't remember the exact saying but it goes something like:

You can put a poor quality CEO in a good company and nothing changes it will most likely still return a decent profit etc.

You can put good CEO in a in a poor quality company and again nothing changes it will most likely continue to underperform.

I'm afraid it's part of the culture of the business and it will take him years to pull it around if he ever does. Despite all the advances i can't help feeling It's got a long way to go despite a good quality product.

I said the same thing at 40p........i think;-)

I'll look again in 12 months.

WC

[meijiman] 02/5/2013 15:54

Woodcutter -you were right with your share price prediction.
Think there will be little incentive to buy ahead of may 28.
suspect Euroland exposure is not helping either.
Still alot of bad news now in the price.

[bottomfisher] 28/3/2013 19:25

Why is Rob Purcell, RNO's new chief executive, digging so deep in his pocket to build up his stake in this member of UK engineering's "walking wounded"? His latest purchase means that he has shelled out £445,000 acquiring a 1.7m share stake, at an average price of 25.5p, since he took over in mid-January.

I have a certain sympathy with Woodcutter's earlier remarks. There is no sign of any imminent recovery in RNO's core markets, and we will have to wait until the results announcement in May 28th to get a sense of the new CEO's game plan to turn this company round.

I really want to believe that RNO's new chairman (Mark Harper) and his new ceo (Rob Purcell), can rescue this business, and like the way the new management, including the FD, have been investing their own money in RNO stock, and not just waiting for their share options.

Both men came from Filtrona, where Harper was ceo from June 2005 to April 2011. Filtrona is a reasonably solid international business. But it is tad worrying that its shares have enjoyed a substantial re-rating since Harper stepped down as ceo.

[woodcutter] 28/3/2013 14:54

meijiman

Well something had to be done on the pension front and it's commendable that they've recognised that and have made some moves forward. Whilst this is likely to have a short term impact on the share price i think there's a lot to do to get the business in to some kind of shape. I could be wrong but i think any immediate move north on the share price will most likely fizzle out and it will return to the 20/22p mark.

The restructuring of the pension pot helps but the problem is still very much alive and impacting the business.

Woody

[meijiman] 26/3/2013 16:38

woody -you might want to have a look at today's RNS. Progress of sorts I think.

[woodcutter] 15/3/2013 17:32

interesting finding you here CR.

No matter how often i look at RNO, i can't get my head around the retirement obligations, £60m against pension fund assets of £161m. If the assets were larger to the extent that the obligations were smaller as a percentage then i'd feel it was recoverable as the general market rose in value, but it just looks too great a problem.

I wish the new CEO well but can't help thinking having had so little time at the helm that, tongue in cheek, his recent share purchases are:

1. Borne out of weak personal finance accumen and a recklessness to spend money
2. Blind optimism
3. Positive as he really is the messiah.

Perhaps my sense of humour is failing me but despite his investment i'll pass again.

woody

[lomcovaks] 27/2/2013 18:12

I didn't read the news today so thanks CR, appreciate the update.

[gbb483] 27/2/2013 11:57

Maybe we all read the news and don't need the crutch of reposting news on BBs.

[cockneyrebel] 27/2/2013 10:46

New CEO buys 500k to go with the 1m he holds.

Bought back in today - looks like punters are bored enough here if they can't bother posting about a 500k buy by the CEO imo.

CR

[lefrene] 14/2/2013 11:27

It was a trading update and not an accounting period.