Weir Share Discussion Threads

[dasv] 06/1/2009 13:59

12:14GMT 06JAN2009-Weir extends gains; Numis says "buy"
-------------------------------------------------------
Shares in Weir Group, up 5.8 percent, extends Monday's gains, as
Numis repeats its "buy" rating ahead of the pumps and valves manufacturer's
trading update on 8 Jan.
Numis remains positive on Weir despite the sector outlook dramatically
shifting since its last update in October, following the announcements of
significant capital expenditure cut backs by the major miners, most notably Rio
Tinto and Anglo American.
"Weir has good visibility and even allowing for the deferral/cancellation of
some orders we would expect the company to show some resilience in 2009 with
greater uncertainty looking ahead to 2010," Numis says in a note.
However, the broker cuts earnings estimates for 2009 and 2010 to take into
account the weakening outlook and, as a result, lowers its target price to 470
pence.

[apppp] 06/1/2009 12:28

applecore - (i.e me) it's looking like you were wrong.

[cockneyrebel] 05/1/2009 09:47

Breaking out - back up as fast as they came down?

CR

[cockneyrebel] 02/1/2009 17:10

chart has turned imo.

Take a look, series of higher lows - up 15% today and hardly of the bottom too - my bet is there's a couple of quid in this one in a pretty short timespan looking at the chat and sell off. at least to 400p-450p in this push I'd say.


CR

[applecore2] 02/1/2009 16:43

Make that nearly 15%. Expecting a quick return to the 3.20's though as seems to be the norm. Hope that I'm wrong.

[applecore2] 02/1/2009 09:03

Up nearly 10%

Is there some news due or is it folk spending their Christmas present money?

[tratante] 23/12/2008 13:32

no not totally linked to oil, totally linked to energy, that's not the same thing at all. Wait till Obama goes full tilt for alternatives - a big opportunity for weir

[james t kirk] 23/12/2008 09:03

Unless Oil price starts to climb again, can't see it. WEIR seems totally linked to oil price movements in last few weeks.

[cockneyrebel] 23/12/2008 08:20

chart says buy here for a ballistic rise

CR

[cockneyrebel] 14/12/2008 20:24

Westley Group Acquires Weir Group's Valve & Pump Foundry
Westley Group has completed the acquisition of the former Mather & Platt stainless steel foundry in Newton Heath, East Manchester, UK, from Weir Group plc for an undisclosed sum.

Immortalised by LS Lowry in the Salford artist s 1943 painting Going to Work , the plant had been known in recent years as Weir Foundry, after it was bought by the Weir Group, but is now reverting to its traditional name of Mathers Foundry in recognition of its heritage.

The foundry makes high integrity cast components and complex alloy products in duplex, super duplex, and ZERON cast alloys for the pump and valve industry. It counts Rolls Royce, Corus and Clyde Pumps among its customers.
Mathers Foundry joins the Westley Group of companies, which is one of Europe's largest ferrous and non-ferrous foundry and engineering groups, employing more than 450 people with an annual turnover of more than £40 million.

Westley Group directors Rob and James Salisbury confirmed that their acquisition of the Manchester foundry will safeguard the future of the plant and highlighted that it was central to their future strategic plans for the business and the Group.
A delighted Rob Salisbury said: " We are proud to have Mathers join our family of companies.
"Mathers is passionate about working closely with customers and offering superior customer service, and this fits very well with our core values. They are privileged to possess a very highly skilled and dedicated workforce, and we will work together with them and the existing management team to grow and serve our customers around the world. This is an exciting acquisition and moves our Group s foundry influence to a Global level."

About Westley Group
Westley Group is one of Europe's largest ferrous and non-ferrous foundry & engineering groups, consisting of five brands: Spunalloys, Walter Frank, Francis W Birkett, Westleys and Mathers Foundry.
The Group employs more than 500 people and has a turnover in excess of £40 million. Our five brands encompass a diverse range of products and services, catering for the most modern of industry needs.
Two hundred years of expertise is supplied to an extremely diverse range of markets and industries throughout the world with a core focus on quality, on-time delivery, responsiveness, communication, flexibility and value. Westley Group's roots date back to the 1700's. Due to a series of strategic acquisitions coupled with organic growth, the Group has grown beyond all recognition into a successful multi-million pound turnover business



CR

[contrarian trader] 10/12/2008 12:53

A few recent broker notes have them as positive...

Weir Group PLC

FORECASTS

2008 2009
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Evolution Securities Ltd
01-12-08 ADD 171.00 57.80 150.00 50.10

Daniel Stewart
27-11-08 HOLD

Eden Group
03-11-08 BUY

Singer Capital Markets Ltd
09-10-08 BUY

[contrarian trader] 10/12/2008 12:50

Looking strong again.

More of yesterday to come especially given Dow futures are well up.

[dasv] 09/12/2008 15:08

They are divesting their stainless steel division.. Can't open the link cos not registered on this site:

[apppp] 09/12/2008 14:52

More like it today david

[davidwilkin] 08/12/2008 17:04

thought these would have been up more today.

[apppp] 04/12/2008 14:09

Good support being demonstrated at tthe 280-290 levels

[tratante] 28/11/2008 09:12

I am not surprised, even in these markets this has taken a real hammering. A very cautious valuation puts it a good bit higher than this. But I guess we are beyond the very cautious.

[owenski] 27/11/2008 22:58

Pru upping stake today, noticed a lot of institutional buying of different shares from insurance companies all announced today, very interesting??

[gconvery] 27/11/2008 22:32

We need this to break out over about £4.30 before feeling confident that this share has turned the corner. However, I do hold for the longer term when I think this will be an easy winner.

[applecore2] 27/11/2008 19:14

This would be a stonking buy in a normal market. Fundamentals / double bottom chart / etc etc

[tratante] 26/11/2008 17:03

go on, the directors are buying!

[dasv] 25/11/2008 10:44

Looks like a double bottom to me. Hmmm shall I buy back in?

[tratante] 25/11/2008 08:03

I don't think people realise that this company is not tied to oil and minerals. Obama is going to make a big push to make the US more self-sufficient in energy, and any form of energy production new or old is going to require the products and services this company provides.

[jugears] 24/11/2008 19:06

Yes couldn't agree more.

[tratante] 24/11/2008 09:11

...and time to bounce again me thinks. Well oversold for such a solid and profitably company. Been run down in the panic.