STU - Steel & Tube Holdings

[Balance]

I missed the agm but have read what was supplied. My thoughts are CEO stated that sales were 29 percent above last year before level 4. Now open at level 2 and 3 and demand with lockdowns is not lost… it’s just delayed. Stated they have significant back log of orders.

They have $25m cash which for a distribution company is very unusual (most have a debt up to 30 percent). Nav at year end 21 was $1.11.

To me it’s a screaming bargain which is why I have added to my already large holding this week.

Likewise.

There is a big seller out there keeping a lid on the sp at $1.05. They seem content to keep feeding the stock out at $1.05 and not go lower.

[Balance]

Likewise.

There is a big seller out there keeping a lid on the sp at $1.05. They seem content to keep feeding the stock out at $1.05 and not go lower.

Big seller still there imo but backing off as they appear to be the only real seller at this level.

I decided to buy a few more after talking to a builder/developer who bought some STU shares this week - he gets much of his steel products from STU and said he would be stuffed if he had not been with them. There's shortages of steel products all over the place and some builders are finding it impossible to get some products this side of Christmas, meaning delays to completing projects.

Prices have been going up but he is happy to pay as delays to completing projects are even more costly.

I sense another profit upgrade before the end of the year.

[winner69]

Suppose BlueScope are still happy holding on to their 15% share?

They having a say about divie v share buyback?

Whatever probably puts a damper on any takeover