my usual 2 cents.
I sold approx 1/3 of my holdings pre ex div ,not because I felt bis is a sell but because the dollars i had invested in bis reached the ridiculous stage.
This morning i have been buying.
AGM on the 24th of nov,if they maintain guidance of increased profitability for FY22 then I expect during next 12 months my price target is $2.50 to $3 .
Reason,currently eps .185 ,with a 9 cent div clearly representing a low 50% pay out ratio.
Maybe 3 years ago bis said they will follow a 70% payout ratio once debt reduced below $10m.(we have a new cfo but i still believe a 70% pay ratio is reasonable) because bis has concluded its capex towards the CJV which now establishes a 50/50 equity partnership combined with 50/50 profit distribution which should make cjv more stable..
Bis is also a lge customer of the CJV due to wear plate green feed required for the mining industry etc so relationsghip should stay friendly.?
I'm fascinated why rheinmetall is sending a lynx chassis to the US produced in QLD,I thought general dynamics was making the chassis for the bradley replacement lynx.? potential contract 5000 units.
Same i like the marder fire fighting vehicle.
And land 400 phase 3 selection due shortly which bisalloy will provide the steel for who ever wins but it will give us a confirmed supply time frame ie twice the contract volume of steel compared to the boxer approx..
As posted rheinmetall is and will grow as a material customer for bis.etc indonesia,thales etc.
anyway gltah's
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