Tyman Share Discussion Threads

[janeann] 26/3/2013 16:26

well be interesting to see if these can break 200p ; looking quite strong aht present!

[a0148009] 12/3/2013 12:11

About right price at the moment but think as the market anticipates 12- 18 months ahead could easily go 200p+ in this market almost talking myself into a BUY see below.

Date Broker name New Old price target New price target Broker change
12-Mar-13 Canaccord Genuity 182 213.00p Reiteration

My view:-

Negative Points

Margins down a fraction.
Schlegel having a tough time in Europe and do not see much improvement in near future.
Positive
Potential strength of USA housing market.Amesbury 50% of revenue.
£/$ exchange rate boost.
Benefits from recent rationalisation and vigilance on costs.
Net debt down to £37m
Dividen 3x covered.

Digital Look

Tyman Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-13 245.05 21.80 11.83p 15.5 9.1 +2% 4.60p 2.5%
31-Dec-14 256.75 24.68 13.36p 13.7 1.1 +13% 5.32p 2.9%

AO

[jeffian] 12/3/2013 10:44

Results OK, if a little complicated by corporate transactions.

Is it just me, or are these beginning to look fully valued at this point?

[a0148009] 15/2/2013 19:32

jeffian

Thanks for your reply, the shares were consolidated in December 2007 at the 9ish level according to the chart, you are right I do remember GH buying at 90p after this, however in March/April 2009 when the market hit bottom the consolidated shares traded as low as 6p, I recall it well sitting on a large loss and trebled up at 8p.

I think they are about the right price at the moment trading on Consensus P/E of
15x for 2013 and 13.3x for 2014, I find the market gets ahead of the game
for a while anticipating recovery of US property market, hence the last surge in price.

As they say it all turned out right in the end.

Edit agree GH purchased at 9p when he first moved into Company as well as the post consolidated purchase at 90p.

AO

[jeffian] 12/2/2013 13:43

AO,

I think you are forgetting the 1:10 share consolidation in 2007. Greg Hutchings made his original share subscription at 9p (equivalent to 90p post-consolidation) - although he may have made some purchases in the market before then, I can't remember - and went on (with the rest of us) to participate in subsequent Placings and Open Offers at 14p (140p) and 18p (180p). Either way, he's in the money now if he wants to withdraw from the fray.

[a0148009] 08/2/2013 12:11

GH also purchased a block of shares much lower than 90p somewhere in the high teens, which really lit the touch paper under the shares. I bought to average myself at 8p, they traded at 5p. It is a shame that all the history has been wiped out, I have found it very useful on occasions, did this happen automatically when the name was changed or was it intended.

AO

[jeffian] 08/2/2013 01:24

Well done, giardap, you found the new thread! No, I only meant 'goodbye to Greg' in the sense that the old Lupus thread made specific reference to the Hutchings era and there is now a clean sheet with a new name and no links to GH other than (as you say) his substantial shareholding. Having said that, we are now at the point where he could get out of his last investment at breakeven (180p Rights Issue) and substantially in profit as his stake was built from 90p(?) upwards. I was in years before that and my original acquisition was at 70p, so I'm reaping the benefits now.

[giardap] 07/2/2013 21:39

I would not say goodbye to Greg just yet - he still has a major shareholding in the company

[jeffian] 05/2/2013 11:08

"As indicated in the 2011 Annual Report to shareholders, the Board has decided to change the Group's name and branding to reflect the re-focusing of the Group as an International building products business, supplying components to the door and window industry worldwide."

Although I once chastised some poor soul for trying to start a new thread and losing the 'history', now that dear old Lupus Capital has changed its name, the time has surely come (particularly as the old charts don't work any more!). So it's goodbye to Greg Hutchings and his financial conglomerate and hello to "an International building products business".

Ladies and Gentlemen, the floor is yours...................