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chashley1806 - many thanks for the W8-BEN info. I too use II.
online apparently - he's increased his price target in line with Finncap to 325p.
I notice that in their latest note, Finncap say: - net cash should increase to nearly $26m by this year end - they suggest a special dividend of say $10m, equating to almost 15p per share - together with the core dividend this would give a total dividend yield of over 9% - SOM's rating is still significantly lower than their US (and also UK) peers The latter point indicates that SOM may become a takeover target, especially imo given the age of the CEO.
Hi The tax form is called a W8-BEN. Completing it is to your advantage because, without it, the US authorities can deduct tax from any dividends you make (that's because Somero is a US company). However, with it, you are exempt from any US taxes. I'm invested in Somero via Interactive Investor. All I had to do was complete the W8-BEN form once and send it to Interactive Investor, and that's it - any future dividends from Somero then comes to me tax-free! Hope this helps.
May be of some interest to others. Http://www.cambridge-news.co.uk/business/business-news/someros-share-price-soaring-private-12745198
SOM have just been tipped here: Http://money.aol.co.uk/2017/03/15/this-high-flying-stock-should-keep-on-soaring/ "Soaring shares Shares in Somero Enterprises(LSE: SOM) have climbed by 150% over the past two years, but even at 281p I'd say they still look good value. Full-year results reported on Wednesday showed a 22% rise in pre-tax profit and a 23% rise in adjusted net income per share. Net cash soared by 60% and the company was able to to hike its dividend by 61% to 11.1 cents per share. CEO Jack Cooney spoke of "record revenues, profits, and cash flow" and "the strongest balance sheet in our history". And speaking of the firm's prospects for 2017 he enthused "We are financially stronger than ever, have the broadest product portfolio in our history and have made significant investments to increase our global reach". Sounds great, but what does the company do? It produces laser-guided equipment for laying and levelling flooring, and offers products that include laser screed machines, concrete hose line-pulling and placing systems, ride-on screed products... No, I don't know what they are either, but sales are growing strongly in North America, Europe, Australia and China. On a fundamentals front, Somero shares are on forward P/E multiples for this year and next of around 11, with no real EPS growth forecast for the two years overall. But in the light of these results and the firm's upbeat outlook, I can see those being re-rated upwards in the coming months. As a result, I think Somero shares are good value."
May also be of interest. http://www.cambridge-news.co.uk/business/business-news/someros-share-price-soaring-private-12745198
<b>Somero Enterprises, Inc. 21% Potential Upside Indicated by finnCap Posted by: Amilia Stone 15th March 2017</b> Somero Enterprises, Inc. with EPIC/TICKER LON:SOM had its stock rating noted as ‘Retains’ with the recommendation being set at ‘CORPORATE’ this morning by analysts at finnCap. Somero Enterprises, Inc. are listed in the Industrials sector within AIM. finnCap have set their target price at 325 GBX on its stock. This now indicates the analyst believes there is a possible upside of 21% from today’s opening price of 268.5 GBX. Over the last 30 and 90 trading days the company share price has increased 15.75 points and increased 40.51 points respectively. Somero Enterprises, Inc. LON:SOM has a 50 day moving average of 254.93 GBX and a 200 Day Moving Average share price is recorded at 201.37 GBX. The 1 year high share price is 285 GBX while the 52 week low is 140 GBX. There are currently 56,042,429 shares in issue with the average daily volume traded being 121,204. Market capitalisation for LON:SOM is £158,560,840 GBP. Somero Enterprises, Inc. is a manufacturer of laser-guided equipment. The Company’s equipment automates the process of spreading and leveling volumes of concrete for commercial flooring and other horizontal surfaces, such as paved parking lots in North America. The Company’s products include S-22E, S-15R, S-15M, STS-11M, S-840, S-485, CopperHead XD 3.0, Mini Screed C, PowerRake 3.0, 3-D Profiler and SiteShape.
Market & Company News Broker Forecast - finnCap issues a broker note on Somero Enterprises Inc 15 March 2017, 09:50Source - SMW finnCap today reaffirms its corporate investment rating on Somero Enterprises Inc (LON:SOM) and raised its price target to 325p (from 254p).
from 254p - good to see: https://www.sharesmagazine.co.uk/news/market/5512998/Broker-Forecast-finnCap-issues-a-broker-note-on-Somero-Enterprises-Inc
I2 MASSIVE......"And then they mention proposals of US infrastructure spending which reinforces confidence". Totally MASSIVE
Again....incredible results By far the best company on AIM!!
Such a shame that we Brits seem to be incompetent at running our multi-nationals as well as this, perhaps we no longer have the stomach for it. What a gem this is turning out to be.
SOM Somero 325p Target............... Somero Enterprises Inc SOM finn Cap Corporate267.50 264.50 254.00 325.00Retains
selftrade telling me i need to complete a us tax form! wtf?
<b><u>DIRECTOR TALK</u></b> Jack Cooney, CEO of Somero, said: <b><i>"2016 was an excellent year for Somero. We achieved record revenues, profits, and cash flow and ended the year with the strongest balance sheet in our history. This was the third year of our five-year plan to become as US$90m revenue business, and I'm delighted to report we are already 75% of the way there with two years to go. However, what makes me most proud, is that we were able to achieve these results because we never lost sight of our mission to help our customers build successful, profitable businesses. Our employees have built an exceptional organization that earns the loyalty of our customer base day in and day out. It is this dedication that fills me with tremendous pride. I am excited at the opportunities that lie ahead for Somero in 2017. We are financially stronger than ever, have the broadest product portfolio in our history and have made significant investments to increase our global reach. We believe we are well positioned to capture growth in our core North American, European and Chinese markets, extend our global footprint, and continue to grow revenues from new products. Most importantly, we believe we are well-positioned to continue to deliver strong results and dividends for our shareholders and create shareholder value in the future."</i></b>
Makes nice reading. Special Divi still on the cards for later ion the year also.
FLASH: Somero lifts FY pretax profit, dividend 15 March 2017 | 7:07 AM
SOM Somero......... Fantastic results, records broken on all headings. The Outlook statement is very bullish. <b><u>Current Trading and Outlook</b></u> The solid momentum in North America at the end of 2016 has carried over into 2017 driven by demand for replacement equipment, technology upgrades, and interest in new products. We remain encouraged by the solid level of non-residential construction activity in the US, a view that is supported by reports from our customers of lengthy project backlogs that extend well into 2017. Proposals for US corporate tax reform and fiscal policy programs to invest in US infrastructure are additional factors reinforcing our confidence in North American growth prospects. In Europe, the 2016 acceleration of recovery from the recessionary low point in 2011 is expected to carry forward into 2017, driven by demand for replacement equipment, technology upgrades, and interest in new products, much like we see in the US which is encouraging for the future. In China, the interest level in our products remains healthy and we are excited by the growth opportunity in front of us. In particular, we see solid interest in our S-158 entry level product, which opens up the productivity oriented market segment to us that we expect to help us grow our customer base and offer future up-sell opportunities. We also continue to see traction with our market development efforts to promote wide-placement methods and flatness, levelness standards. These factors, along with our very low market penetration in China, point to solid growth prospects for 2017 and beyond. In Latin America, we are expecting stable performance from Mexico and Chile, and we have begun to see modestly increased activity in Brazil, and are optimistic for a satisfactory contribution to growth from the other countries in the region. In our other markets, including the Middle East, Australia, India, Scandinavia, Korea, and Southeast Asia, we expect to see significant opportunities in 2017 and are encouraged by the market climate across this broad territory. The Board believes the Company is well-positioned to capitalize on the many opportunities we see across our portfolio of markets and products and we remain confident Somero is poised to deliver another year of profitable growth to our shareholders in 2017. http://www.investegate.co.uk/somero-enterprises--som-/rns/final-results/201703150700084772Z/ http://uk.advfn.com/p.php?pid=legacydaily&epic=L^SOM&type=4&size=2&period=4&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=25&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=50&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=160&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
Terrific results once again :o)) 27c EPS beats the 24.4c forecast by some margin - and is ahead of THIS year's 26.1c EPS forecast too. The 2017 forecast will presumably have to be lifted somewhat, to say 29c-30c EPS. And there's now a $20m+ cash pile :o)) That's almost 15% of the m/cap in itself. The 11.1c dividend is also a shade ahead of forecasts. Remarkable that two new products are already generating $10.6m of sales, only 2 years after development. Above all, the outlook statement is very, very positive, with a good start to 2017 in the USA and China also looking good. Overall: "The Board believes the Company is well-positioned to capitalize on the many opportunities we see across our portfolio of markets and products and we remain confident Somero is poised to deliver another year of profitable growth to our shareholders in 2017."
Ask has just moved up to 265p so no more for sale at 260p currently - so, as I suggested, there were no seriously large sell order in at 260p.
Looks like good news for SOM from The Donald last night: Https://www.bloomberg.com/news/articles/2017-02-27/infrastructure-stocks-climb-as-trump-pledges-to-spend-big?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social "Infrastructure Stocks Climb as Trump Pledges to Spend 'Big' by Luke Kawa 27 February 2017 15:58 President Donald Trump breathed some life back into beaten-down stocks that have been seen as benefiting from higher spending on highways and bridges, promising to spend "on infrastructure big." Construction materials and steel makers are among the best-performing industries on the S&P 500 on Monday, with a basket of infrastructure-linked stocks compiled by Bespoke Investment Group climbing more than 3 percent.... ....There is "no choice" but to spend on infrastructure, Trump said in remarks made in Washington before his address to Congress on Tuesday."
For me the visible part of the iceberg on level 2 for SOM is currently 15000 at 260p - 5000 with SING and 10000 with PEEL. Between Jan 19th and Feb 14th the visible part of the iceberg was a relatively small number at 255p - maybe between 5000 and 15000. Over that period there seemed to me to be many more buys than sells which led me to believe, by the end of the period when the ask was 255p, that there had been a large sell order to dispose of at 255p. It could have been of the order of a million to dispose of at 255p. So much more of the iceberg was under water than above water! There was of course no way of telling from level 2 on say Jan 19th how many shares there were to sell at 255p. On around Feb 15th the Ask went up to 160p, which is where it is now. I suspect the bid is going up more quickly now than it did when the ask was 255p even though the volume being bought since the 15th is small. The number of shares available at 260p therefore seems to me to be substantially smaller than the number which were available at 255p. All IMHO
Per The Times today, an article lists according to Canaccord those UK-listed companies most likely to be a takeover target for predators post-Brexit - and SOM is one of them: Http://www.thetimes.co.uk/edition/business/global-predators-are-on-the-prowl-for-fresh-killings-7gph32lrz
Hi metis20 Thanks for posting this. Can I ask - how do you know that the "iceberg" of shares at 255p has been consumed? I'm relatively new to investing, and am invested in Somero. Based on what I've learned so far, I believe that, giving the very positive trading update issued in January, this company has great prospects. I also have access to Level 2 data but, unless I'm missing something, I can't see displayed how many shares the market makers hold in companies such as Somero. As I understand it, it's fairly easy to see on the main SETS screen how many shares are available at a given price for FTSE 100 and 250 companies. However, on the AIM market as shown by the SEAQ screen, it is the market makers who hold a "float" of shares to enable liquidity, but I'm at a loss to understand how big that "float" is at any given price point in order to then determine whether the price is likely to go or up or down. All that seems to be shown is the Normal Market Size (NMS) at any given price point - ie. the threshold price under which the market makers must honour an order of shares. Hope that all makes sense, and sorry for the technical nature of the question. However, hope you can shed light on my query.