PGW - PGG Wrightson

[Master98]

That's funny, I bought 40k at 52c on 6/3/15, were they yours?

could be part of those

[percy]

you should sell your HNZ shares and take the money from the table,I put may faith in current pgw management, they grow the company and didn't raise any capital from share holders and pay decent dividend, I sold previous holding at 52c now bought back from 45c.

Thank you for your advice.
I prefer my own counsel.
I would never tell you to buy or sell your PGW.That is your decision.
As I post often on sharetrader,I think it is only right to disclose I have sold out of a company,as I usually post when I have brought into a company.
I sell books to schools.Shares have been a life long hobbie.I was told if you got 6 out of 10 picks right you would make money.Over the years I have gone from about 3 out of 10 to currently 9 out of 10,so I trust my own judgement.

[Master98]

Thank you for your advice.
I prefer my own counsel.
I would never tell you to buy or sell your PGW.That is your decision.
As I post often on sharetrader,I think it is only right to disclose I have sold out of a company,as I usually post when I have brought into a company.
I sell books to schools.Shares have been a life long hobbie.I was told if you got 6 out of 10 picks right you would make money.Over the years I have gone from about 3 out of 10 to currently 9 out of 10,so I trust my own judgement.

Thank you for your advice.
I prefer my own counsel.

I think PGW has been transformed back to a well run organisation, providing excellent products and services to their customers.
They are customer focussed.Having had a "tight" balance sheet,upgrading the business has meant they have had to reinvest with caution.
I would therefore think, any acquisition has been very carefully analysed.I have noted in my travels around Canterbury, PGW branches have been spruced up.In fact they are looking good. Could be said the business is "well positioned."

you can change you analysis just in days, not trustable.

[couta1]

Seems to me that both Percy and Master are both doing very well but in different ways, Percy being more of a long term investor and Master more of a swing trader.

[sb9]

Lightened my exposure to NZ's rural sector today selling our PGW holding.

Respect your own decision percy re selling your holding in PGW. But just wondered, with results due out in 3 weeks on the back of recent profit upgrade, thought you could've waited until that time. I'm sure though if you've very personal reasons for that.

[Master98]

Seems to me that both Percy and Master are both doing very well but in different ways, Percy being more of a long term investor and Master more of a swing trader.

couta, i can confirm i am not a trader, more like a active investor.

[percy]

you can change you analysis just in days, not trustable.

When I see changes happening I act straight away.Can be within minutes.
I think PGW is a fine company.
However, I wanted to cut my exposure to the rural sector.The likes of CVT, PAZ,SCL and SEK should benefit from falling $ more than PGW.REL I wanted to retain,while Tru-Test is very illiquid.
So selling PGW brought my exposure to the rural sector to where I wanted.
I leave others to decide whether they trust me or not.I have always posted my views honestly.

[percy]

Respect your own decision percy re selling your holding in PGW. But just wondered, with results due out in 3 weeks on the back of recent profit upgrade, thought you could've waited until that time. I'm sure though if you've very personal reasons for that.

I expect the result will be excellent.
You may note I have also sold out of AWF,again a share I have held for a number of years.
I am just altering the portfolio a bit.I have recently brought AWK,IQE and a couple of small cap Aussie shares.Also carrying more cash.I am undecided whether to add to our RYM and SUM.

[couta1]

couta, i can confirm i am not a trader, more like a active investor.

Master that post would make a great tui billboard.

[Beagle]

I sold my holding in HNZ but increased my holding in PGW. In tough economic conditions people default on their debt, other loans are rescheduled and deferred and otherwise amortised over longer periods but are intrinsically toxic debt nonetheless...toxic debt that financial institutions are very reluctant to crystallise until the auditors force them too...witness the Euro loans to Greece as a prime example. OTOH people still need seeds, irrigation, farm supplies e.t.c. and PGW's exposure to the dairy sector is small. Further their gross dividend yield is substantially superior to HNZ. Further still, PGW offers the most diversified agri exposure on the NZX by far and while one sector may be struggling others are performing well, irrigation and beef to name just two.

Beef is going absolute gang-busters...(I have been working for the last two weeks on a major clients books and the draft figures have really blown me away, BY FAR the best I have seen in 20 years of doing their books), and yet OTOH we know HNZ have stated they are targeting loan growth to sharemilkers...the ones who's operations are going down the drain...go figure ?
PGW are out of this lending to farmers business and this is now HNZ's problem.

Despite the incessant ramping on HNZ's thread I am happy to back my own judgement.

Perhaps worth noting that my opinion is backed by the analyst community with one buy, one outperform and one hold by analysts
http://www.4-traders.com/PGG-WRIGHTS...113/consensus/
On the other hand we have HNZ with two holds and one underperform.
http://www.4-traders.com/HEARTLAND-N...518/consensus/
(Not to be misinterpreted that I follow analysts per se. I always make up my own mind).