NZR and PPH are doing ok recently ...:p
CEN and IFT outperforming markets by falling less YTD
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After seeing winner69 post I have reviewed the current prices
Stu at $1.45 up 11 percent from original post and Vulcan at $9.11 up 8.5 percent.
My point is that given the current situation both the stocks have feared well in my opinion. As far as steel and tube is concerned nothing has changed, we still have huge demand and I’m still very bullish and expecting a cracker full year result.
I am sure that there is a number of investors that are still on the fence after years of dismal performance. Both businesses are solid inflation proof hedges with a very bright future. With the third-quarter coming to a close hopefully we will get some numbers for full year soon.
I do however think at the current price stu is looking like an attractive takeover play and also Craig’s have stu as the highest dividend return on the Nzx. I’m happy to sit back and see what happens.
Where does STU get most of its steel from?
60 to 65% I think from NZ either new or recycled
Must be about time for another profit upgrade from STU?
Last one was 3 months ago and all indicators out there are that trading conditions are extremely strong for the sector.
Talked to a commercial property developer yesterday and he said that for his 7 storey mixed development in Auckland, he is having to book his steel requirements out 6 months with no prices fixed! Banks are also insisting with developers that the developers only use reputable construction companies/builders now who can access building materials before approving loans.
https://www.nzx.com/announcements/384714
s&t have plenty of sales/account management type roles listed on SEEK. Could bode well for the future....
Boom times continue for the construction sector - in Christchurch greater area.
Usual story however about price increases & delays in getting building material however.
https://www.stuff.co.nz/business/pro...r-christchurch
Housing consents smash 48-year record
https://www.interest.co.nz/property/...-year-february