Somero Enterprise Share Discussion Threads

[glaws2] 03/4/2019 12:17

Umm - try reading the results RNS

[arregius] 03/4/2019 12:16

Where have you seen that?

[mfhmfh] 01/4/2019 13:52

ex-dividend (+ special dividend) later this week.

[barnesian] 01/4/2019 09:49

What date is it today?

[alphabeta4] 01/4/2019 09:21

?!

Somero proudly announces rebranding of Australian division

Somero Enterprises the provider of industry-leading concrete-levelling equipment is pleased to announce the rebranding of our Australian division to Someroo to help further our presence in a key growing market for the company.

A company spokeswoman commented: "Somero is proud how over just a few short years it has become an industry leader with cutting-edge technology allowing its customers to install high-quality horizontal concrete floors faster, flatter and with fewer people with our products used all over the world. The Company continues to make good progress in executing its product innovation growth strategy as highlighted by the introduction of the new SkyScreed(c) 25. We are keen to reflect the markets we serve and hope today's brand change will bring a smile to the face of our Australian customers and have them hopping on to a Someroo for many years to come."

For further information and press enquiries , please contact:

Somero Enterprises, Inc. www.somero.com

Carly Oncrete Gold Coast Communications + 61 2 9192 0995

END

[push n run] 28/3/2019 18:05

Not a tax expert or US citizen, but the legislation is presumably:

hxxps://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions

[grahamburn] 28/3/2019 17:56

I hope some US citizen (expert) can advise what the basis for the sale is under US tax legislation. Seems rather strange. Wonder where the £2.7m is now and whether Jack has any tax liability from taking such a sum out his pension.

However, on a different tack, it seems even stranger that Jack's pension fund only holds Somero shares. That indicates that he has genuine skin (not to mention risk) in this company.... salary, benefits, pension all depend on it being successful.

Can't be criticised on that level.

[sspurt] 28/3/2019 17:16

Crikey - that is a serious slug of Jack's exposure. A reasonable excuse for the sale but then there always are reasonable excuses...

[greyingsurfer] 28/3/2019 15:23

Nothing much to do with this move.https://www.investegate.co.uk/somero-enterprises--som-/rns/proposed-secondary-placing-of-existing-shares/201903281515323736U/

[goldry] 28/3/2019 15:20

Not worries about a recession driving the price down then!

[crazycoops] 27/3/2019 13:33

You guys are making me feel like a contrarian for holding tight :-) Growth is understated, forecasts are conservative, cyclical risks are real but not imminent (IMHO), new high rise product is opening up new markets, existing markets have strong growth drivers and of course, a whopping final/special dividend going ex-divi next Friday 5th April. As for currency risk - perhaps. Soft Brexit or No Brexit are possibilities but so too, the WA with a May resignation, a new PM trying to negotiate a trade deal with the EU for the next two years (good luck with that), a second referendum or a general election. I take the view that there is more risk in UK dependent business right now than maybe a 8-12% currency headwind. Just wanted to put the bull case for SOM and fully respect the transparency of those of you taking profits - best of luck reinvesting the proceeds.

[scooper72] 27/3/2019 12:24

I've also been selling yesterday and today. Just in case I have called it wrong I have kept a few to remind me. Sorry to potentially miss out on the divs, but feeling like having more cash these days brings a lot more peace of mind.

[goldry] 27/3/2019 12:00

Seems to be a pattern to these posts. Also sold this morning to crystallise gains this tax year. Nothing wrong with the company, headwinds are making investors nervous is all. Hope to get back in when settled.

[barnesian] 27/3/2019 11:51

This is a dollar share traded in sterling on AIM. As sterling strengthens the sterling price drops. I think sterling is going to strengthen further as we head for a soft Brexit or no Brexit at all.

I have today sold my holding to crystallise my gains. I'll buy back in later when sterling is stronger. That's a judgement call I know.

[scooper72] 26/3/2019 15:19

Fair enough. Just thought it was worth asking. Thanks for the reply

[rivaldo] 26/3/2019 14:23

Hi scooper, do you mean me (to paraphrase Derek Jameson)? T'was indeed a more bullish outlook.

But orders can be cancelled and outlooks can change quickly. The smoke signals for the medium-term at least seem to be becoming stronger and flagging up a potential slowdown in the USA, whether small or large, temporary or more permanent. As I said, I may miss out on a little short-term upside, but anyone with a decent proportion of their portfolio in a cyclical stock would surely want to take precautionary measures - and investors are allowed to rethink their views!

[scooper72] 26/3/2019 09:15

I can see why u would want to protect that sort of a profit. But was wondering though about your earlier post just over a week ago that was talking about construction work in the USA looking rosy through to 2021. That was a much more bullish outlook.

[xajorkith] 25/3/2019 23:02

Yeah, me too I’m sad to say as this is such a great company.

US yield curve inversion pretty compelling evidence of a recession by end of 2020 & likely to limit the share price in the medium term.

Market signals hugely distorted by Central Bank intervention though, so nothing certain & this remains a world class business.

Will defintely be back here once the smoke clears.

[podgyted] 25/3/2019 19:39

I also sold my holding last week to protect profits.

Not convinced by Ardens argument (I think it will be a while before the US goes into recession) but the seed has been planted.

Comments like this in HL's market commentary today could be read across to Somero in these nervous times. "In equity markets, equipment rental firm Ashtead and plumbing products maker Ferguson - which both have a big presence in the US - were under the cosh amid worries about an economic slowdown Stateside, with the latter set to update investors the following day."

Hope to be back. GLA

[rivaldo] 25/3/2019 09:43

I sold my holding at the end of last week.

The company (and management in particular) is great. My decision was based on a simple risk/reward equation. I suspect that the cycle is indeed peaking now, or has already peaked. So there may be a little upside left here after a positive first few months of 2019, but not too much.

On the other hand any hint of stagnation in non-residential construction - which we may now be starting to see - or pessimism from investors, may see much larger downside.

I had a large holding here, so wanted to protect the 200% gain made to date.

Good luck to all here - now you'll probably see a bid at 450p!

[pireric] 22/3/2019 06:37

Absolutely, but the whole point of an analyst is to have an opinion. And if that's predicated on an external call, like an exchange rate moving and being +ve/-ve for a company, or a recession (and we all know stocks providing essentially CAPEX equipment for the construction industry would be hit far harder than utilities). Arguably if that's his true viewpoint then his target is actually conservative (as he has only reflected a multiple contraction, when the bigger component would probably be the earnings drop).

The fact the share price didn't really drop is because it's a well versed argument, and not necessarily one the market has agreed with (probably on the recession technicality). Much ado about nothing IMO, fair note, fair market reaction. Stimulates a bit of discussion which is nice (I used to hold here)

[pireric] 21/3/2019 20:41

Nothing wrong with Arden's comment IMO. It's fair based on the reasoning they've given. Merely a take it or leave it dependent on your view of the US economy which is why the share price has barely budged. Nothing revolutionary detail wise in it to scare people

Hoping more notes crop up in the new MIFID 2 world that actually stimulate discussion!

[mfhmfh] 21/3/2019 18:54

One of IC's Tips of the week:

'Somero’s offering is niche and the customer base is fragmented – bolstering its competitive advantage.'