Yes I do, however, I have been raving on a couple of other message boards for over three years now about the prospects of U.K. engineering. I that time:
Spirax Sarco .......up 112%
Rolls Royce.........up 47%
Plus allot more. There are many sound reasons why UK manufacturing is likely do do even better over the next ten/twenty years.
"Steam and pump engineering group LSE:SPX:Spirax-Sarco has struggled as growth in the global industrial supplies market grinds to a halt. The downturn in the oil sector hasn't helped, and neither have adverse currency movements. However there are ..."
"NASDAQ COMPOSITE INDEX.Â Someone was kind enough to ask about this and currently we view it as heading to 5063 points, maybe even 5070. Alone amongst the US indicators, it has never bettered its prior highs but in the event of it bettering ..."
This is an excellent company, very well run and (I think) one of very few that has always kept or increased its divi for 25 years or more. iii have missed out the SPECIAL divi paid in July 2013 of £1.00 (yup, 240 old pennies) per share, which the company treated as Capital and the investors as income. As a result, my 300 shares became 288, but the share price has shot up beyond the price that was used to set the divi.. Safe to buy even at this price for the long term, as it is well balanced internationally: one of (quite a few) good mid-size British companies that we are able to invest in.(But it might drop temp. so you could wait for an even better chance to buy in)
Interesting point about possibly over valued. Most brokers' forecasts see this as now towards the top of its range, although Goldman Sachs reiterated a Buy rec on 18 Jan with a target of £28.56. Thing about SPX is the earnings from overseas and a weakening £ stands in its favour. I have held this share in my ISA since 1999 with an average annual return of 13%+, but carried out some top slicing along the way. Two things might persuade me to top slice in the near future:
1. It is volatile perhaps because (a) little followed and (b) low trading volumes but does tend to trade in narrow spread.
2. At 2%+ dividend is low against FTSE average so taking some capital gain would make sense.
Brokers Targets: http://www.hl.co.uk/shares/shares-search-results/s/spirax-sarco-engineering-ord-25p-share/broker-forecasts
I don't think there is any need to do so. SSE appear to be doing quite well as it is and, surprisingly for a genuine success, appears to attract very little attention. Didn't work for RBS but then they were exceptional and quite different circumstances. I've just left the RBS page and I have never read such a load of drivel for a company that is a basket case. Any engineers out there want to give us their view on SSE?
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