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I bought these shares as a recommended share of the week by my broker at circa 2700. This was only a few weeks ago has anybody got any thoughts regarding the performance going forward.
http://adatherton.blogspot.co.uk/2014/09/scottish-referendum-hedge.html
Im buying this on opening bell.
You did not mention the shorting situation, down to 6.26%
Positive Points: Full year divisional revenues and operating margin expectations remain unchanged. The company continues to focus on operational improvements and investment in its growth platform. The advancement of energy fracking in the UK would be expected to prove positive for Weir Group. US and Canadian shale markets, and demand for equipment used in fracking has already assisted the group. The group's global presence, diverse end market exposure and targeted cost reductions are playing their part. A progressive dividend policy continues to be pursued.
Negative Points: The group focuses on business sectors which are highly dependent on economic growth. Weir Group is exposed to adverse foreign exchange currency movements. The group's net debt at 4 April 2014 (figure not published) was slightly higher than reported at 3 January 2013 when it was £747 million, reflecting usual seasonal patterns.
First quarter interim management statement: Glasgow headquartered Weir Group said trading since 4 January had been in line with its expectations and that the full-year guidance remains unchanged. The company, as set out in February, said it expects to return to underlying growth in 2014, despite mixed end market conditions. It also said it expects good constant currency revenue and profit growth with group margins broadly in line with 2013 levels, although reported results would likely be impacted by recent adverse foreign currency movements. Weir's first quarter performance was supported by higher underlying activity levels, particularly in the Oil & Gas and Power & Industrial divisions. Operating margins were broadly in line with the prior year period, added the group. On a divisional basis, in Minerals, order input was down 7% against the prior year which contained a number of brownfield orders. Original equipment input was down 27% on the previous year, which the firm said reflects ongoing weakness in mining end market conditions and the absence of any large orders in the first quarter. Oil & Gas order input came in ahead of expectations, up 33% on the year before, said Weir. Original equipment and aftermarket orders were up 33% on the first quarter of 2013, the low point of the upstream cycle. In its Power & Industrial business, order input in the period was up 5% on the previous year. Original equipment input was up 19% and was offset by a 9% decline in aftermarket orders. In April, Weir Group said it was considering its options after making a takeover approach for Finnish firm Metso Oyj. The company rejected Weir's approach, stating it would not be in the best interests of its shareholders. In response, Weir said it had noted Metso's announcement and continues to believe in the strategic rationale for bringing the two companies together. The Board of Weir added it believes that it has made an attractive merger proposal and there is no certainty that it will revise the terms of its proposal. Further announcements will be made if and when appropriate said Weir
Anyone here got any opinions about the recent news? Of course the merger is very much in the balance, but the possible TO by GE is somewhat startling...
Good call , almost 10% of stock short on it . Whats your target, i see support at 2475ish on the daily, a close here and i may jump in. MACD and RSI look primed for further falls
Positive Points: The engineering firm expects mid-single-digit growth in North American and Middle Eastern upstream investments this year, provided oil and gas prices remain stable, it said. The 2013 acquisitions of Mathena and R Wales contributed £70 million in revenues. Weir Group said it saw strong demand in international markets for its pressure pumps used in shale gas exploration. Its business in China was particularly strong with a 73% rise in equipment use. The company has continued to focus on operational improvements and investment in its growth platform. The advancement of energy fracking in the UK would be expected to prove positive for Weir Group. US and Canadian shale markets, and demand for equipment used in fracking has already assisted the group. The group's global presence, diverse end market exposure and targeted cost reductions are playing their part. A progressive dividend policy continues to be pursued.
Negative Points: The fall in profits and revenues was attributed to challenging end-user markets. The group focuses on business sectors which are highly dependent on economic growth. Weir Group is exposed to adverse foreign exchange currency movements. The group's net debt in 2013 was £747 million, up from £689 million in 2012.
Financial Highlights: The engineering company reported a 5% drop in profits before tax to £418.1 million. Revenue decreased by 4% to £2.43 billion, reflecting a lower opening order book. Year-on-year, the group's net debt position worsened from £689 million in 2012 to £747 million in 2013. The board recommended a 10.7% rise in the final dividend to 33.2p a share, taking the total payout for the year to 42p per share......
Full year results: Glasgow headquartered Weir Group expects to return to growth in 2014 in the wake of mixed end market conditions. For the year ended 3 January, the engineering group reported a pre-tax profit of £418.1 million, down from £440 million a year earlier. The decline in full-year revenues reflected a lower opening order book however the group said it still achieved record margins as it benefited from more than £40 million in direct cost savings and value chain excellence initiatives. Weir said revenue for its oil and gas arm fell 7% to £796 million from £857 million in 2012, which it attributed to continuing subdued demand for pressure pumping original equipment as well as a lower opening order book. Weir did not provide information regarding the level of its current order book. Weir, which makes equipment for mining and oil and gas companies, said it remains well positioned to benefit from long-term growth drivers in each of its principal end markets. The company declared a final dividend of 33.2p per share making a total of 42p per share for the year, compared with 38 pence paid in 2012.................
Has never gone away. 180? year old company that makes valves, some vital to fracking. Holding can be uncomfortable due to constant Short attention, for which I can find no sensible reason. I hold until bid Confirmed or Denied.
And was all the way from 14/15/16 quid to here. IMO a good well managed company, and the reaction to the profit warning was quite mild IMO I am holding
Have you checked out what the shorters are doing, this was the most shorted stock.
Weir look like a good long term bet with an improving world economy but is it worth holding on to stock bought at 2110 or sell at a meagre profit now and get back in later?
The BB on Weir seems to have died a death which seems a shame. There is going to be massive shale gas development in China, Mexico, Russia, Australia etc and Weir are a well known and long established company well placed o take advantage. They also have a mining equipment division and with the international upturn in economic fortunes then raw materials will move more centre stage. Think long term, you're not going to make quick massive profits here but investing for the medium term it looks like a good play
When you consider how much, and how fast, the world has changed in the last 20 years, a 50 year reign is a stretch. If it does go that far, it is only by the consent of others to not trespass on dollar dominance, not because there is a valid case for it. Personally, I think the Chinese idea of a 'bag' of currencies plus commodities (i.e. real assets) can serve the world well. Speculators may not like it, but it would be great for the real economy. - As for your good friend Gordon Brown, he sold off the gold because he was convinced he was infallible in his calculations and assumptions, that markets tamed by brooding gits like him were the way forward, and gold was merely an afterthought. Hence, the answer to the conundrum is 'Egomania'.
US$ is the least dirty shirt in the CCY wardrobe. Glad I bought some for holidays at 2.00 to the £. I would personally like to see a bit more Gold in our vaults, but Gordon Brown had read some Keynes, & sold half at a rubbish price, the sale leaked so Johnny Foreigner knew not to overpay. The Treasury were aghast, but the boss knew best. I have NEVER heard an explanation for this totally stupid move, perhaps he should put one in his memoirs. The $ Will cease to be topdog in about 50yrs time, IMO
Dollar to remain resevrve currency of the world... The question is, should it really be, and why should it be? It's a multi-polar world, and I doubt it is a stable outcome or in anyone's interest. And the more this become the case, the more distorted all markets, and asset prices will be. The environment will become prone to shocks of all kinds. It will be difficullt to determine the value of assets - any assets - over time until some more credible value of exchange emerges.
I agree with the Bloomberg guy,' everything has been done by the Fed. Tk devalue the $, but it will remain the defacto ccy of the World. ' I keep a lot of greenbacks on hand & favur stocks which report in $. Hqve a few goldies as well, which have been disqppointing.
Oh, one more thing I forget to mention, and which does give me some sleepless nights, and does not relate to WEIR. That is the dollar, and the QE. Bernanke and his committee at the FED are beginning to leak out that there are 'issues' surrounding exit from this strategy. It was all predicated on growth substitute for all the vapour of (fake) money pumped into the economy. It looks to me that somewhere down the line, the dollar will have to be re-aligned. Because of the enormous quantities of dollars out there (and the American penchant of taking others for granted and abusing their reserve currency status) I think this dollar dilemma is going to be bullet that strikes the bulls-eye of ..... I am not sure exactly what, but this is kicking the can down the road. And looked what happened to the Eurozone when they did that for the sake of expedience. So, that is my main focus now - the US dollar. I have not reached any final verdict, as this is ongoing, but this is the main concern for me. If I reach some substantive conclusions, I will update you, and you can do with that (my personal) opinion as you wish.
Good morning. You have done very well here, I confess. But if I was holding, I would sell, because this is in speculators territory (in my view). I would imagine some are hoping that there may be a bid for WEIR, or something like that. There is nothing extraordinary that this company produces. It is good stuff, but the mining boom is over played, fracking is and will come up against environmental pressures, and the Chinese will storm in at some point, copying the products. Finally, the shares traded are very thin, and this leaves me with the impression that someone is having a derivative play here. The stock is merely a gaming chip. But that's my view. Perhaps the extraordinary rise will continue. IHG surprised me too. I would like to own that stock, but not at its current price. - Good luck, and if your strategy has worked for you, I would stick with it, and not listen to any doom-sayers. That's what Buffet did, and he came out on top!
Dear boy, I try not to trade as I am a disciple of Mr Buffett. I sold some ARM last year around 640p as they were obviously overpriced & waited for the re-trace, to buy back in - still waiting! VOD is currently the second biggest share in my PF, after TESCO. I have a typical pyramid PF, FTSE foundations, narrowing to AIM at the top, NO BANK shares. I am pants at trading, so I try to buy & hold. My aim stocks are proving 'The triumph of Hope over Experience'. Heres my question: I wont sell WEIR at this price, would you?