Tyman Share Discussion Threads

[jeffian] 20/10/2014 18:56

Indeed, and the £ has declined 6% vs US$ since then. I'm never too concerned about £/$ conversion anyway, as long as it is simply a feature of reporting foreign earnings translated into domestic currency. In companies whose cost base and revenues are in the same currency - as here - margins are maintained. It is only companies which manufacture in one currency and sell into another that suffer margin erosion when the domestic currency strengthens. So surprised by the continuing weakness here (though not as brave as AO148009 in acting on it!).

[a0148009] 20/10/2014 18:02

Already have some long term at much lower price but added Friday as they look reasonable value especially if the US housebuilding market continues to improve.
Worth reading through the interim statement again. Equal value with TPK and cheaper than WOS but much smaller company.

Louis Eperjesi, Chief Executive Officer of Tyman, commented:

"We have had an encouraging first half, with good progress made on a number of fronts, including the integration of the North American salesforces, new product introductions in Grouphomesafe and the acquisition of Vedasil in Brazil.

"The Group's first half performance, current order book levels in key end markets and continued delivery of targeted synergy benefits positions us to deliver full year expectations, which remain unchanged despite the material strengthening of Sterling against international currencies."

29 July 2014

Digital Look forecasts :-

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-14 345.60 40.14 16.89p 13.9 0.6 +23% 7.10p 3.0%
31-Dec-15 370.58 47.82 19.92p 11.8 0.7 +18% 8.10p 3.4%

AO

[jeffian] 20/10/2014 13:17

I'm not understanding the recent weakness here compared to its peer group, particularly in view of its exposure to the US market.



Any views?

[jeffian] 30/9/2014 15:04

WOS results today say that trading in US has been very strong and that continues in the forward outlook. Bodes well for TYMN.

[bummel45] 09/8/2014 08:48

This seems to have taken a bit of a hammering over the past few days. I guess it's a variety of reasons, including the general market sentiment and the dollar. Hopefully there's nothing nasty that we don't know about, especially so soon after good results, and encouraging broker recommendations.

[bummel45] 30/7/2014 13:15

Yes, I agree with all of that. This must be my best growth stock, and on dividend grounds as well. Now it's showing solid growth from a good and seemingly well-developed product range. It looks very promising for the future, and I will certainly be holding for the time being.

[jeffian] 30/7/2014 09:29

"- remember you could have bought these at 8p." I actually bought my original Lupus holdings at 7p and 7.45p but you're skimming over the fact that there has been a 1:10 consolidation since then so 8p=80p! That said, performance has been fine. I added at each Rights Issue and have built quite a substantial holding too and, like you, am happy to continue holding. Yesterday's figures looked good and they confirmed they were on track to meet forecasts despite £/$ conversion rates (i.e. effectively ahead of forecast). Travis Perkins figures out today also strong so we're in the 'sweet spot' for building materials at the moment.

[a0148009] 24/7/2014 07:53

Hello Chaps - only three posts here since my last one in March- I think jeffian is right this is no longer a penny stock and most private investors have cashed in - remember you could have bought these at 8p. One of my best performers but regret that I regularly top sliced but still have a decent sized holding. I believe the rating is up with events but intend to hold as I see the management ambitious and should not be long before another accretive acquisition. They have done exceptionally well and do not think that GH would have done any better although we will never know. The company is positioned in the right place in the USA with improvement in the property market - shame about the currency being predominantly dollar based but we have reaped the benefit in earnings. Market cap now £475 million and we have been receiving double digit dividend increases for the last few years looking on what we paid for the shares we are now getting a handsome yield with 3 x covered dividend.

Digital Look forecasts

Tyman Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-14 354.68 40.39 17.11p 16.4 0.7 +25% 6.66p 2.4%
31-Dec-15 381.05 47.60 20.06p 14.0 0.8 +17% 7.69p 2.7%

AO

[jeffian] 17/7/2014 16:41

Yup, still here. I think it's just one of those 'sensible' stocks which doesn't appeal to the pennystock crusaders (just have a look at the most popular threads by post numbers and you'll see what I mean!). This one seems to have plateau-ed somewhat. I feel the fundamentals of the business are good but the markets are wary of stocks which have already had a good rise - as TYMN has - with some uncertainty about the timing and effect of the end of QE and rising interest rates and, of course, the results will suffer on the $/£ conversion. It's become one of my larger holdings but I'm happy to hang on in the belief that the business will continue to grow, increasing profits and dividends.

[bummel45] 17/7/2014 16:20

Is anybody there? The board seems to have been abandoned.

[durham dealer] 25/3/2014 13:40

Jefferies International new target 369 :-)

[a0148009] 12/3/2014 22:44

jeffian - thanks I would agree with Times comment have been tempted a few times to sell as rating has been well ahead of final figures but clearly justified will hold medium term at least - here the most recent brokers recommendations.

change
12-Mar-14 Liberum Capital Buy 297.00p 260.00p 335.00p Reiteration
12-Mar-14 Numis Securities Add 297.00p 285.00p 320.00p Reiteration
11-Mar-14 Canaccord Genuity Buy 290.00p 325.00p 350.00p Reiteration

Average target price 335.00p
Forecast p/e 2014 18.8x 2015 16.0x

Source Digital Look.

AO

[jeffian] 12/3/2014 14:32

Still here. Just absorbing the figures. There's positive comment in the Times today (can't c&p it) saying that the US acquisition was good timing and that as US housing market continues to recover they see up to 50% further improvement in revenues plus further cost savings and margin improvement. Say it's not cheap but a good play on further long-term improvement in the US market.

[a0148009] 12/3/2014 10:29

What has happened to all the posters on Tyman have you sold out or relaxed enjoying the rerating - doubt if Greg would have performed any better than the new board.

AO

[a0148009] 11/3/2014 07:50

Excellent figures beating forecasts on Revenue, EPS and Dividend - out look positive.

AO

[durham dealer] 10/3/2014 17:21

Yup- I'm still in.. Lets See.. everything x

[jeffian] 10/3/2014 15:21

Results tomorrow. Anyone else still in?

[a0148009] 26/2/2014 16:53

Seems like a sensible acquisition with economy of scale and efficiencies to be gained merging the businesses.

AO

[major clanger] 30/8/2013 14:04

Tyman - Canaccord downgraded to hold (from buy) / TP unchanged at 235p

More here:

hxxp://www.brokerforecasts.com/news/article/articleId/4659859

[jeffian] 19/8/2013 15:23

I've just noticed that someone has taken the trouble to 'vote down' my header post! What's that all about?

Greg? Is that you?

8-)

[jeffian] 13/8/2013 10:46

That's more like it!

8-)

[jeffian] 10/8/2013 09:01

If comment in the press is to be believed - that UK and US economies are reaching 'escape velocity' allowing growth to continue without the artificial stimulus of QE - then one would hope it's not just for 9/10 months!

[reval] 10/8/2013 05:01

The Markets always 9/10 months ahead of itself---in the price all the good news me thinks !

[jeffian] 09/8/2013 12:21

I know it's had a good run but I'm slightly surprised at the persistent downward movement of the past few weeks, even on good days like today. With all the positive news coming out about US and UK housing markets, one would have thought TYMN were in the sweet spot. Maybe the market thinks all the good news is already in the price?

[sphere25] 11/7/2013 09:45

Ssshhh, keep quiet.

These quiet boards are usually the best ;-)

Monster breakout!