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Thread: Cavalier -- cav

  1. #21
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    Quote Originally Posted by belgarion View Post
    Seems Canterbury will need some new carpets ...
    And still they rise. Topped up at 2.39 back in May.

  2. #22
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    Can anyone explain this meteoric rise? To me it seems irrational, yes they will need some more carpets in Canterbury but surely its not only that?

  3. #23
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    It certainly has been a meteoric rise!

    But perhaps it's just that the market has rediscovered a well run business that has delivered consistently good profits and high dividends for longer than most can remember.

    As an income investment, CAV sure beats those dodgy finance company debentures!

    Disc: The longest Hold in my portfolio.

  4. #24
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    Posted by macduffy:
    "The longest hold in my portfolio"

    Me too, macduffy. Since 1996. I was still buying more in 2001-02, when the price was over $6 (just before a 2:1 split). But I wish I hadn't taken advice to diversify into fixed interest, back when the likes of St Laurence and Strategic were being recommended by the so-called experts.

  5. #25
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    Hi, Lawso.

    I should qualify my statement.

    The equal longest Hold in my portfolio.

    I bought CAV in 1995, along with STU (still held), Dominion Breweries and Skellerup. The latter two long since gone.

    CAV has proven to be a classic stock to hold for income and to buy in the dips. STU would have performed better for me had I treated it as the cyclical that it is, but we live and (hopefully) learn.

  6. #26
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    that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?

  7. #27
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    Quote Originally Posted by blackcap View Post
    that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?
    What about the South Canterbury Finance money going into the NZX market, for dividend paying stocks?

    The earthquake in Canterbury will certainly help CAV over the next year

  8. #28
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    I've never been overly impressed by the Efficient Market theory.

    Markets - and individual stocks - have always been subject to large dollops of sentiment, enthusiasm, depression and mood swings which tend to throw "Efficiency" out of the window on occasions. At least, that's been my experience these last 40 odd years!

    Perhaps CAV is just back in fashion?

  9. #29
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    Quote Originally Posted by blackcap View Post
    that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?
    Who knows and who cares why? Maybe some investors have just gone nuts.
    h2

  10. #30
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    Quote Originally Posted by h2so4 View Post
    Who knows and who cares why? Maybe some investors have just gone nuts.
    Cheers... I quite like your theory, I really do. Well im not complaing as I hold a few. Definately some South Canterbury money coming in the next few days to keep the market propped up. Cav has been a great little company, divs are good, imputed and happy to hold

  11. #31
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    I was playing around with some new ratios I found that I quite like. It comes from a book called The Little Book That Beats The Market. Well worth a read.

    As at yesterdays close

    Return on capital 27.5%

    Earnings yield 9.5%
    Last edited by h2so4; 24-09-2010 at 08:40 AM.
    h2

  12. #32
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    any thoughts on CAV as stock to hold, will do well from demand - CHCH erthquakes and flooding in aussie. Good dividend play

  13. #33
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    Yes, its been a good steady income stock for a long time now and short term prospects are looking good.

    Market seems to agree.

    I hold.

  14. #34
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    scamper's a holder as well.
    But with a div currently at 5.54% (directbroking site), am not sure that it's a great earner.
    However, carpets will need renewing all over the place soon.
    The chart is all good, but the eps of 19.3 doesn't seem completely terrific... cheers.

  15. #35
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    The 5.54% doesn't include imputation credits. Grossed up, it's about an 8% gross yield at current SP.

  16. #36
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    In a sea of red ink today it was good, if rather intriguing, to see CAV up a whole 21c!

    I can't find any announcement so it's either belated "earthquake" reaction or something is leaking in the good ship Cavalier.

    Any ideas?

  17. #37
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    Commerce Commission giving the go ahead for CAV to almost get a monopoly on the wool scouring market should help the share price even more

  18. #38
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    When was that announcement, winner?
    There seems to have been a sudden and largish drop over the last couple of days.
    And the sp sat around 360 for nearly a month.
    I am beginning to wonder if the supposed good times ahead are an illusion...
    Cheers.

  19. #39
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    Commerce Commision said so

    13 April 2011

    The Commerce Commission has reached a preliminary view that it should allow Cavalier Wool Holdings to acquire up to 100 per cent of New Zealand Wool Services International’s wool scouring assets and stock (and/or the shares in New Zealand Wool Services International).



    The Commission has today published its draft determination on Cavalier Wool Holding’s application under the Commerce Act for authorisation of the proposed acquisition.



    “Our preliminary view is that the proposed acquisition would substantially lessen competition in the North and South Island wool scouring markets. Cavalier Wool Holdings would essentially have a monopoly on the supply of wool scouring services post acquisition. However, at this preliminary stage, the Commission expects that there would be benefits to the public that would outweigh the loss of competition,” said Commerce Commission Chair Dr Mark Berry.



    “The Commission considers there is the potential for Cavalier Wool Holdings to raise prices after the acquisition because of the loss of the constraining influence of NZ Wool Services International. However, we expect that the level of the detriment resulting from the acquisition is likely to be limited by the ongoing, long-term competitive threat of the Chinese wool scouring industry and the potential for new entry into the New Zealand wool scouring industry,” said Dr Berry.



    “On the other hand, the Commission considers that there would be considerable benefits to the public arising from the rationalisation of the wool scouring industry that Cavalier Wool proposes to carry out. The rationalisation is likely to lead to lower production and administration costs, the freeing up of industrial sites, and lower ongoing capital expenditure requirements in the future.”



    The Commission is seeking submissions on its Draft Determination by 27 April 2011. Submissions will be posted on the Commission’s website. The Commission will hold a conference with interested parties on 4 and 5 May, and the final determination will be issued by 31 May 2011. You can find details of the conference on the Commission’s web site at:



    http://www.comcom.govt.nz/media-rele...ts-application

  20. #40
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    Well spotted!
    information like this should surely be up on share sites...
    meanwhile, another 1.1% has dropped off so far today.
    Maybe time to snatch a few more...

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