Rhigos
07 Dec 2016
Being shorted, 1.10% of shares [link] FTSE 100 +1.8% HLMA -0.9%. This is a very bad sign.I note from above site that HLMA is 123rd most shorted UK company at 1.10% of it shares. In my experience once hedge funds start shorting a company it is prudent to get out. At the moment it is not being heavily shorted unlike TLW, WEIR and PMO which I am sorry to say I hold. WEIR has recovered a lot due to Trump effect and now back in profit and have a target price of 1960 to sell at.Now regretting not selling at least some of my HLMA recently. I am hoping for a bounce in SP tomorrow. Going to place a limit sell order now at 947 to sell around 44% of my HLMA shares.
Hardboy
01 Dec 2016
Re: Market Fluctuations I was disappointed when I got stopped out the day the results were released. On the whole I thought they were good & the long term future continued to look good. However things worked out OK as I have been able to buy a bigger holding & still pocket a few quid. In for the long term now.
Rhigos
24 Nov 2016
Re: Market Fluctuations Glad to see HLMA outperformed today. Now only 13.3% below all time closing high. Now reconsidering selling. Brokers are rather lukewarm on HLMA. Might be best to play safe and top slice. I think I'll wait and see how they perform on a day when market is stronger.
valuemanbuyer
24 Nov 2016
Re: Market Fluctuations RhigosProfit includes profit on top slicing which has reduced average cost of stock held. Although the gain is v good it would be much better had I held on to all stock originally purchased. FWIW Run the winners especially if they can eke out 10% + eps growth per annum while maintaining Roce at a decent level.
Rhigos
23 Nov 2016
Re: Market Fluctuations valuemanbuyer, " I'm up 506% av cost price 135p based on top slicing over past 4/5 years..."The lowest closing price in the last 5 years was on 9/03/2009 which was 143.3 so not sure how you managed such a low average price. Perhaps you are not working out average purchase price in the standard way. Cost per share is gross so includes stamp duty, commission etc. If you buy 1000 at 350p gross and later buy another 500 at 420p gross, gross average purchase price per share is (1000*350+500*420)/1500 = 373.33333. Book cost = £3.733333*1500 = £5,600. If you sell 300 the average cost per share is not affected. Book cost though is reduced to £1200*3.733333 = £4,480. Top slicing does not reduce average purchase price.per share price but may increase profits. I 1st bought 4/09/14 then 30/04/15, 28/05 and 03/11/15 my average purchase price (book price) was 691.00p. The company was not brought to my attention until the latter part of 2015, more's the pity. I think I became aware of HLMA from a post by LKH - thanks LKH.I am thinking of selling around 40% of my HLMA, perhaps tomorrow if SP picks up.
Hardboy
23 Nov 2016
Re: Market Fluctuations I'd set my stop loss around 15% below their high which is why it triggered. I think there may be some slight headwinds at the moment, but I'm going to try to get in to buy more shares at a lower cost.
valuemanbuyer
23 Nov 2016
Re: Market Fluctuations Depends if you want to make serious gains. I'm up 506% av cost price 135p based on top slicing over past 4/5 years but maintaining the core holding . I see no reason why great returns shouldn't continue .
Rhigos
23 Nov 2016
Re: Market Fluctuations SP now 25% below all time high on 10 Oct 2016. Really thinking I should take some profits while I am still 38% up on average purchase price. From 9:30 this morning market took a downward turn so think I will sit it out today. No good fighting market this share is no longer highly favoured.
2Korshus
23 Nov 2016
Re: Safe haven Halma seem well placed post Brexit deal to transfer knowhow around manufacturing sites in UK, Europe and US to avoid any customs tariffs that may be introduced. The Company has a wide range of manufacturing capability in all geographical territories. This ability will further strengthen Group profits if £ remains weak.
Hardboy
23 Nov 2016
Re: Safe haven Good point, VMB, but Brexit does not just affect the UK. Halma have 22% of their business in mainland Europe too.
valuemanbuyer
23 Nov 2016
Safe haven As we are about to enter Brexit in March HLMA is set pretty with only 13% of sales in the U.K. It gives me comfort being so well spread and with the ability to grow earnings @10% per annum what more can one want ? Value is high and may bounce around a bit but over time should move upwards. OnlyConcern I have is relatively low return on invested capital @13%.
Hardboy
22 Nov 2016
Market Fluctuations Little b**ger stopped me out!
LK Hyman
22 Nov 2016
Re: Not all good news in results Rhigos," rising bond yields should give some relief to this thorny [pension deficit] issue."Indeed. I'm getting less and less exercised about the issue (which did worry me a bit vis a vis my hloding of SMIN and prevented me from investing in GKN or BT) and am seeking to exploit the likely future unwinding of pension deficits in general via my exposure to LGEN.LKH on the flybridge
Rhigos
22 Nov 2016
Re: Not all good news in results Good point LKH "But net debt was actually down from £247 million at the beginning of April 2016."Also "The price had perhaps got a bit ahead of itself". This may explain neutral stance by most brokers. I think Hardboy's comment about large rise in pension deficit may be significant regarding today's SP fall. Pensions are a thorn in many companies sides but I read at that weekend that rising bond yields should give some relief to this thorny issue.Thanks to both of you for your insights.HLMA's SP still just above the 13% stop loss I had set (from high of 1226 on 10 Oct) so I will hold for now. May top slice if SP gets to around 1230.
LK Hyman
22 Nov 2016
Re: Not all good news in results Rhigos,"Net debt up from £93.4 in 2015 to £237.3 in 2016 a 254% increase."But net debt was actually down from £247 million at the beginning of April 2016.Results look excellent to me. The price had perhaps got a bit ahead of itself, so the recent pullback may be deemed to be healthy and restoring Halma to the realms of "good value" at the current share price.I shall hold but probably not buy any more for the time being.LKH on the flybridge
