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  1. #766
    Trying to get outta here
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    You cant go past HLG and you cant have too many.

  2. #767
    Legend
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    Quote Originally Posted by Baa_Baa View Post
    Percy wrote: "Gross yield 6% and 50% imputed is satisfactory."

    Not in my book it's not satisfactory, I don't do satisfactory, It needs to compete, which imo it isn't right now.
    I was disappointed when it was announced this year that, for the first time, dividends would no longer be fully imputed. Nevertheless I believe this 'transition' was handled well. Dividends were increased at the same time and that meant no shareholder was worse off as a result.

    You have to go back several years to understand why this has happened. Skellerup have located their manufacturing close to their biggest target market. So industrial pumps sold mainly in the USA are made in Skellerup factories in the USA. Car driveshaft couplings sold in Europe are made in a Skellerup factory in Europe. Milking equipment consumables in dairy mad New Zealand are made in Skellerup's new Wigram factory in Christchurch. This is all smart thinking that will minimise the effect on Skellerup of any international trade wars.

    Up until the last few years the 'industrial' division of Skellerup has been having growing pains, as the Agricultural side of the business carried the company along. But now some of those overseas industrial investment gambles are coming to fruition. Skellerup doesn't earn imputation credits from their overseas factories. The fact that dividends are no longer fully imputed is a reflection of the success of Skellerup's overseas investment strategy.

    While I agree that at $2.42, SKL is no longer 'cheap', growth is available on many fronts. There is no 'king hit' product that will send the SKL share price out of the park. Think instead of Skellerup more as an investment octopus with smaller growth arms flailing out everywhere. Even if one or two of those arms wither or end up being lopped off, that won't derail the growth engine of this Skellerup beast. I am not buying more Skellerup shares at today's prices. But given the returns of alternative places to put my money, I am not selling any either.

    SNOOPY

    disc: Shareholder
    Last edited by Snoopy; 10-05-2019 at 09:31 PM.
    To be free or not to be free. That is the cash-flow question....

  3. #768
    percy
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    Quote Originally Posted by Patient Panda View Post
    The only time SKL has been good value IMO the last few years was when it was 1.15 in I believe it was 2016.

    I can understand your reasoning for not holding OCA, I’m not a fan.

    I f you’re looking for a place to put your funds I recommend briscoes at 3.30
    pe 11.5
    yield of 8.45%
    roe last year 23% and 5 year average even higher
    always under promises and over delivers
    consistently growing divs
    low debt
    plenty of cash in the bank
    BGP are a great success story,particularly their online growth.Agree low debt,plenty of cash and paying a good divie.All ratios are very attractive.
    However, I am avoiding retail,as I see low interest rates will lead to a lower NZ $,which together with the new minimum wage increase ,will add stronger headwinds for retailers..I believe they are hitting hard already.

  4. #769
    percy
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    Quote Originally Posted by couta1 View Post
    You cant go past HLG and you cant have too many.
    Didn't some one say that about OCA or was it SUM...lol

  5. #770
    percy
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    Quote Originally Posted by Snoopy View Post
    I was disappointed when it was announced this year that, for the first time, dividends would no longer be fully imputed. Nevertheless I believe this 'transition' was handled well. Dividends were increased at the same time and that meant no shareholder was worse off as a result.

    You have to go back several years to understand why this has happened. Skellerup have located their manufacturing close to their biggest target market. So industrial pumps sold mainly in the USA are made in Skellerup factories in the USA. Car driveshaft couplings sold in Europe are made in a Skellerup factory in Europe. Milking equipment consumables in dairy mad New Zealand are made in Skellerup's new Wigram factory in Christchurch. This is all smart thinking that will minimise the effect on Skellerup of any international trade wars.

    Up until the last few years the 'industrial' division of Skellerup has been having growing pains, as the Agricultural side of the business carried the company along. But now some of those overseas industrial investment gambles are coming to fruition. Skellerup doesn't earn imputation credits from their overseas factories. The fact that dividends are no longer fully imputed is a reflection of the success of Skellerup's overseas investment strategy.

    While I agree that at $2.42, SKL is no longer 'cheap', growth is available on many fronts. There is no 'king hit' product that will send the SKL share price out of the park. Think instead of Skellerup more as an investment octopus with growth arms flailing out everywhere. Even if one or two of those arms wither or end up being lopped off, that won't derail the growth engine of this Skellerup beast.

    SNOOPY

    disc: Shareholder
    SNOOPY,
    Thank you for your post.

  6. #771
    An Awesome Cool Cat winner69's Avatar
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    Quote Originally Posted by percy View Post
    When he tells you,you were right,Percy is a guru,then worry.!...lol.
    Neighbour interrupted me when I was out cutting the grass yesterday

    Said he had read all Percy’s posts for the last few months and commented he’s one pretty clever guy ......no, no I said he’s a guru.

    Sounds like he and his bowling mates might take their loss on Oceania but hold onto Turners and take a punt on Skellerup.

    He got even more excited about Skellerup when I pointed to my gum boots - look Red Band made by Skellerup and they last forever (for a city person).

    Good news though percy - I changed the subject as to how they buy PAZ. Thought that might be too complicated for them.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  7. #772
    percy
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    Quote Originally Posted by winner69 View Post
    Neighbour interrupted me when I was out cutting the grass yesterday

    Said he had read all Percy’s posts for the last few months and commented he’s one pretty clever guy ......no, no I said he’s a guru.

    Sounds like he and his bowling mates might take their loss on Oceania but hold onto Turners and take a punt on Skellerup.

    He got even more excited about Skellerup when I pointed to my gum boots - look Red Band made by Skellerup and they last forever (for a city person).

    Good news though percy - I changed the subject as to how they buy PAZ. Thought that might be too complicated for them.
    Don't think they would be up to signing "The Wild West" form, so as you can buy PAZ on www.usx.co,nz.
    PAZ asm this coming Thurday should be interesting.I think they will post the asm presentation on USX site on Friday.
    Liquidity and few announcements are big draw backs to USX market,however there are some interesting companies for experienced investors,such as:Rangatira,Rural Equities,Skyline,and Syft.
    OCA Craigs have a $1.24 target price so they should be OK.Craigs SKL target price is $2.55. So perhaps they would be best to hang onto OCA.TRA give another year or 18 months.


    ps I think once you are referred to as a guru it is all down hill from there on in.
    Last edited by percy; 11-05-2019 at 11:18 AM.

  8. #773
    An Awesome Cool Cat winner69's Avatar
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    Percy, I know for sure the neighbour and his bowling mates read your posts.

    I popped into the green today while they were having a friendly late season roll up (as a prelude to drinks no doubt) and one of them surveyed the head (the bowls they’ve bowled up around the jack) and several times I heard them so ‘well positioned’ (like we have the closest bowl to the jack)

    Isn’t that cool.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  9. #774
    percy
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    Quote Originally Posted by winner69 View Post
    Percy, I know for sure the neighbour and his bowling mates read your posts.

    I popped into the green today while they were having a friendly late season roll up (as a prelude to drinks no doubt) and one of them surveyed the head (the bowls they’ve bowled up around the jack) and several times I heard them so ‘well positioned’ (like we have the closest bowl to the jack)

    Isn’t that cool.
    They are out of control.!..lol.

  10. #775
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    Quote Originally Posted by percy View Post
    They are out of control.!..lol.
    I told them they should join up and discuss things with you direct

    One of them did enter the picking compeition and is doing quite well in that being in the top quartile - I told him that makes him a guru
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  11. #776
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    Quote Originally Posted by Beagle View Post
    Just a heads-up folks. SKL is being removed from the NZX50 index during the close of trading match process on Friday 16th Sept. Likely to see significant downward pressure by index tracking funds exiting this stock. I also note that ACC who have a superb track record of investment returns have been reducing their holding lately.
    In a follow up to this post from 2016, I was chatting to my broker about what I see as the inevitable return of Skellerup to the NZX50. Then he informed me it was already back in there! He couldn't tell me how long it had been back though. I did a quick web search and came up with no clues. No announcement to the market. No press release on the website. No announcement by the NZX. Nothing from the fourth estate. Has the NZX become so 'premium buyer sensitive' that they don't see the need to update the wider market when changes to the NZX50 are made? Did Skellerup themselves even know they were back in there?

    On a secondary note the ACC, had they kept their full investment in SKL, had they banked the dividends, they would have seen a near 100% return on their Skellerup investment in just two and one half years. I guess even 'superb track records' can go off track?

    SNOOPY
    Last edited by Snoopy; 11-06-2019 at 09:48 AM.
    To be free or not to be free. That is the cash-flow question....

  12. #777
    Following the momo
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    Quote Originally Posted by Snoopy View Post
    In a follow up to this post from 2016, I was chatting to my broker about what I see as the inevitable return of Skellerup to the NZX50. Then he informed me it was already back in there! He couldn't tell me how long it had been back though. I did a quick web search and came up with no clues. No announcement to the market. No press release on the website. No announcement by the NZX. Nothing from the fourth estate. Has the NZX become so 'premium buyer sensitive' that they don't see the need to update the wider market when changes to the NZX50 are made? Did Skellerup themselves even know they were back in there?

    On a secondary note the ACC, had they kept their full investment in SKL, had they banked the dividends, they would have seen a near 100% return on their Skellerup investment in just two and one half years. I guess even 'superb track records' can go off track?

    SNOOPY

    This is the announcement that you are looking for Snoopy http://nzx-prod-s7fsd7f98s.s3-websit...120/280714.pdf

  13. #778
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    Quote Originally Posted by McGinty View Post
    This is the announcement that you are looking for Snoopy http://nzx-prod-s7fsd7f98s.s3-websit...120/280714.pdf
    Thaaks for that McGinty. So the announcement was only made on June 8th and the re-emergence of Skellerup happens on Monday 18th June. Interesting this announcement was on 'S&P Dow Jones' letterhead. Has the NZX outsourced their own index compilation function?

    There doesn't seem to have been much of a market reaction to the announcement so far. Since June 8th trading volumes are down and the SKL price has weakened by a few cents. Those index hugging funds look to have only a couple of days to buy their shares. Unlike most share index adjustments the amount these funds will receive for their outgoing NZX50 shares - CBL insurance - will be nothing. So suddenly having to raise money to buy something new when you have no spare cash may prove a problem?

    SNOOPY
    Last edited by Snoopy; 12-06-2019 at 10:45 AM.
    To be free or not to be free. That is the cash-flow question....

  14. #779
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    Quote Originally Posted by Snoopy View Post
    Thaaks for that McGinty. So the announcement was only made on June 8th and the re-emergence of Skellerup happens on Monday 18th June. Interesting this announcement was on 'S&P Dow Jones' letterhead. Has the NZX outsourced their own index compilation function?

    There doesn't seem to have been much of a market reaction to the announcement so far. Since June 8th trading volumes are down and the SKL price has weakened by a few cents. Those index hugging funds look to have only a couple of days to buy their shares. Unlike most share index adjustments the amount these funds will receive for their outgoing NZX50 shares - CBL insurance - will be nothing. So suddenly having to raise money to buy something new when you have no spare cash may prove a problem?

    SNOOPY
    The announcement was dated a year ago ..... 2018 ....so shouldn’t impact this week.

    S&P Have been doing NZX indices for many years now
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  15. #780
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    Quote Originally Posted by winner69 View Post
    The announcement was dated a year ago ..... 2018 ....so shouldn’t impact this week.
    Oooh quite right, how embarrassing :-(. I am a year out of date with my evaluation! Fortunately I was not a year behind the times accumulating my shares!

    I see last year the share price ramped up from $1.99 to $2.04 between the 8th June 2008 and 18th June 2008. Not that significant? I guess considering the price plunged to below $1.95 a month later shows it wasn't

    SNOOPY
    Last edited by Snoopy; 13-06-2019 at 08:31 PM. Reason: spelling
    To be free or not to be free. That is the cash-flow question....

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