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Might have be YTD performance up 75% from Jan. Probably people locking in profit. Looked at this back on the £2s but didn't pull the trigger....oh well can't win them all
Fabulous trade update with revenue, EBITDA and cash all upgraded (again!) by Somero.
I just can't get my head around why people are selling at £5.00 - at least 10% undervalued IMO.
Expecting a second wave of buyers here, as soon as a wider audience sees the value here - probably will be tipped by Investors Chronicle as a stonking buy for share price growth and mega dividend.
Agreed. Still ridiculously undervalued.
What a company, it just keeps giving. (And im very happy to have 30% of my portfolio parked here!)
some translation of the below from anybody please: Stockopedia states Unicorn Asset Management 9.96% 5.6m shares but includes (I think) Unicorn UK Income Fund 4.85% and 2.7m shares,
"From 13 October 2021, following shareholder approval of the Proposals announced on 23 September 2021, Acorn Income Fund Limited (“the Company”) entered into a scheme of reconstruction, whereby the Company’s residual assets will rollover into the Unicorn UK Income Fund, an open ended vehicle managed by Unicorn Asset Management Limited. The Company was placed into members’ voluntary liquidation on the same day and Benjamin Alexander Rhodes and Andrea Frances Alice Harris of Grant Thornton Limited were appointed as Joint Liquidators.
From this date, Premier Asset Management (Guernsey) Limited no longer acts as investment manager of the Company."
There's a view that the recent share price weakness has been caused by Unicorn fund managers, who have been liquidating their Acorn Income fund.
Unicorn did hold around 10% of Somero, so a very big holder.
Liquidation is nothing to do with Somero's value, just a decision to shut this fund and liquidate assets.
Certainly there has been a big seller in the background for a while - I looked to buy around 500p several weeks ago, as share had fallen from high of 550p (RNS excellent results were declared). Lots of other smaller investors saw this as an opportunity and bought in, but despite massive buys around 500p, share price didn't move for several weeks.
Once buyers dried up, all it took was a few sellers and the market makers walked the price down, so it was moving towards 20% below year high, so many PIs capitulated and sold their stock triggering more falls etc.
Yesterday I believe was the bottom (but this is AIM so who knows!!)
I'm hoping that Unicorn are now all out / nearly out and we will get a Holding RNS over the next day or so.= to confirm.
Clearly the share price is a bargain now at these levels - I added more yesterday at 459p.
Rich
I remember the last trading update the sp fell quite dramatically the day before then shot up on the day of the good news.Here’s hoping!
Did you look at the trading activity at the time? I don't have paid for access so I can only see the last few trades. If someone sold a chunk of stock then it may show up in a TR1 announcement in a couple of days if it was a big holder.
If SOM release bad news in the next week or two then we can speculate that the grapevine has many tentacles.
If SOM release good news in the next week or two then we can presume someone hasn't watered the grapevine properly and bits of it are a bit twiggy and dead.
Or option 4: we'll never know.
Anybody know what happened at 10 o'clock this morning. Not overly worried, just curious.
"The Company announces that on 29 September 2021, it purchased ordinary shares of USD0.001 in the Company ("Ordinary Shares") to be cancelled in due course, pursuant to the share buy-back programme announced on 10 March 2021.
Date of purchase: 29 September 2021
Number of Ordinary Shares purchased: 5,416
Highest price paid per Ordinary Share: 550 pence
Lowest price paid per Ordinary Share: 550 pence
Volume weighted average price paid per Ordinary Share: 550 pence
Following the above transactions and subsequent cancellation, the Company advises that its issued share capital is 56,351,648 Ordinary Shares, with 237,787 Ordinary Shares held in treasury. Consequently, the total voting rights of the Company are 56,113,861."
no clear why they set the price at 550, in fact today it dropped to that price and even more: having said that, are you 'buying the deep' or not?
From Facebook.
Last weekend, Somero took part in the Tilt-Up Convention & Expo in St. Louis. Always great to connect with our customers! We'd like to give a big THANK YOU to Concrete Strategies LLC. for hosting the reception and giving us a chance to deliver a sneak peek of our newest innovation designed specifically for the panel market: the Somero S-PS50.
The Somero S-PS50 is a 50 foot boom laser screed® machine that will tackle any panel project and deliver on our FASTER.FLATTER.FEWER™ promise in ways the tilt market has never seen before.
Follow Somero on Facebook now and be the first to know when the revolutionary Somero S-PS50 machine is released.
#SomeroEnteprises Tilt-Up Concrete Association (TCA) #TCA #tiltupconstruction #tiltup #tiltwalls #concreteconstruction
Covered in the Daily Mail "This is Money" section - rated a buy
(Alliance News08/09/21)
Somero Enterprises Inc - Fort Myers, Florida-based concrete levelling equipment company - Posts pretax profit for the first half of 2021 of USD23.5 million, up sharply from USD7.5 million a year ago. Revenue almost doubles to USD64.4 million from USD35.3 million. "First half 2021 was a record setting six-month period for the company led by very strong trading in North America, and strong contributions to growth from international markets and new products," says company. Declares interim dividend of USD0.09, up from USD0.04 a year ago. "We maintain a confident, positive outlook for the remainder of 2021 and anticipate delivering record levels of revenues and profits to shareholders for the year," company adds. Somero shares rise 14% to 535.00p each on Wednesday.
This company is a little gem with management who know what they are doing and believe in looking after shareholders too! One to hang onto for the long term .
Fast growing company changing hands at just 10x earnings. Plus stuffed with cash and rightly very wary of dealing with China no doubt because of IP protection.
MMs did a lovely little tree shake in the last half hour - to finish down 5.7% on the day at 257.5p.
- they are such rascals aren't they....
Gives me a lot of confidence that we will see solid interim results on Wed 8th Sept
GLA holders, Rich
Good!
https://masterinvestor.co.uk/equities/somero-enterprises-a-solid-construction-sector-play/
The real spread seems to be 10p.
Last sell was 455, and the previous buy was 465.
Roll on the results in september :)
Looks good but why the huge spread
of the best out there!
This company just keeps on giving!
My buy is showing as a sell just as I thought.
I've just bought at £4.678 so a few of those trades showing as sells could be buys. My W-8BEN came through this morning. Shame it wasn't 24 hours earlier! Think this one is a good LTBH.
Yes good update . Strange the way that yesterday this was managed down by 8% , no doubt to try and trigger some stop losses.
Some manipulation going on ? Surely not , not complaining I managed to pick some up @ 387 & 377 just before the strong div.