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Have decided to sell my entire holding today now that the short-term high of around 222p has been reached again - got a 20% profit overall and was frankly getting a bit fed up of the investment not working hard enough the last few months. Better opportunities to invest in at the moment, but may revisit Devro if it falls back towards the 210p level again.
I don't think we'll see a 1xx share price absent a big fall in the overall market. I think today's price still represents good vale personally.
took out a short on DEV on 12th May 0.7% of the stock at around 212p. The sp then flew up to 223!! but subsequently has pulled back. They will be looking to close at what? Any ideas anybody? I recon we will see 180 / 190 again. I will be buying for sure. GLA
Matt your purchases match mine:) I bought just before the sp collapsed. Thought it was well over done so bought load more. Top sliced at 185:) Im happy to hold now and let all the investment pay dividends. The world will always need sausages!
I followed their lead and averaged down from my initial buy at 220. Bought at intervals all the way to 150p. Unfortunately I sold half my holding at 182...Doh! Still, well in the blue (or green) and today banked a tidy div to boot. Holding on to the rest for the long term. GLA
..all the senior management invested significant amounts in the stock in Nov and Dec last year at the low. Clearly they feel comfortable with how the business is developing.
Let's hope so. Better utilization at the new factories will lead to significant marginal gains in profits and cash flow, so reducing debt. This should have significant effect on EPS, and then we'll see a real move in the stock IMO.
Devro are way out infront of anyone else in this market and have invested huge ammounts in new tech and factories, this will pay off very soon.
Devro have invested, now is the time to reap the rewards. Well managed and forward looking.
Clearly, the 'all fine and as expected' trading statement helped enormously. There is some rubbish posted on this Board about the Company overextending themselves (driven by a very poor piece of financial journalism in the FT - not for the first time either) and even about selling their brand new Chinese factory (which by the way, I hear is now going gangbusters). The Chinese have discovered protein folks, so expect the sausage market to thrive - no way will they be selling their brand new asset in the most populous country in the world. Issues here and in the US are teething, and you have the benefit of having one of the best and most proven managements at a mid cap UK Company to sort these out. Clearly risks remain, but I think there are many reasons to feel positive about the outlook from here
More buyers than sellers :)
Any one know why the rise?
Yes, reducing the gearing is number one priority for them. They generate plenty of cash so this should be plain sailing now that the investment in new plant and factories is over. The world loves sausages. Am holding tight for a rise when results are published on 6th March. Sp ticking up as I type. GLA
Wrong board
There is interest in Devro, but it is tempered by caution in that the company is somewhat stretched geographically. It's strategy was ahead of its size. In my opinion, at some point, it will sell off its China operation and concentrate on fewer assets. Grow organically should have been the guiding rule of management. And now they have to get that debt down before interest rates rise.
have increased their holding, which to me is a great endorsement for this stock. I don't understand why there is not more interest in Devro. Potential for plenty of upside from here, nearly 5% dividend yield...whats not to like. £2.20 soon enough in my humble opinion.
Somebody believes this is on its way back up....
Expect devro to tick up as we approach ex div
There are a couple of short positions but nothing of any concern. I think the share is moved around by the short positions and if you can get in sync then why not trade into the cycles. I am often tempted but am just sitting tight and waiting for the March results. Nice dividend too, with a stop loss set just in case. GLA https://www.fca.org.uk/static/documents/short-positions-daily-update.xls
Topped up at 179 this morning but still puzzled by gyration of this share. I hold a fair number and have traded in and out successfully in last few years. Anyone have any insight ?
Anybody any ideas as to why the sp has slipped back.
Cranswick. This is a broader more integrated company, not over leveraging itself in far-fling operations. It's a far safer bet than Devro, in my opinion. But as as current holder of neither stock, that's exceedingly easy for me to say.
Larger UK peer? Who would that be?
Informing the analysis in the FT was, I assume, the factor that for its size, Devro took on a large loan, and acted, perhaps precipitously, in the belief that China would really grow in scale. The other markets were already mature, and projections more straightforward. It is this balancing act of what is a modestly sized company taking on large loans and investing is a dispersed large global space, which kind of 'thins it out' compared to its larger UK peer which is a more vertically integrated company. Devro has gambled on a horizontal scale. Only time will tell how this pans out.