Notice the comment on HMY and it looks a good business. Would have liked it more if as it appears their F/D site in Poole not sold/leased back before the float - would have done the same in Nikko position and they must have done very well out of HMY. MTI also been around a while and now benefitting from heavy R&D expenditure a few years ago - they make explosion protection devices used in hazardous areas such as oil rigs. Recent interims show good progress and reasonable dividend yield just under 3% covered 2.5x. Good cash generator - ungeared. Quite modest P/E 13 even after good run last 12 months. Encouraging noises about prospects. Market cap 43M. Not the double or quits type mainly featured on these boards, but worth a look for the patient value investor - and F/Ds feature in their balance sheet. May be on the radar of some bigger players. I am interested in 5000 shares bought over last 3 years at average price 150p - last added at 226p.

HMY results made me revisit this thread. Am not technically capable of reproducing the one year graph, but suspect chartists would like the look of it. Moved quietly up to 247p over last couple of months and should have more to come before results time in March.

Check out todays results.Patience pays with quality businesses and you do not need to take high risks to get good reward. Now approaching double average purchase price (plus dividends) and one of several gems for long term hold in my PEP portfolio.

Now 342p middle and recent tip in Investor's Chronicle. Hope some of the (apparently few!) value investors on these pages are on board. Will keep mine.

Another solid set of results today, price now 380p. Disappointing no interest in this thread, but prospects remain good and mine will be kept.

Unusual level of activity today, mainly buys and price now over 400p. Don't understand why so many chase rainbows when there are quality companies like this around.

Partridge

The SP graph is very impressive - not been aware of this lot before but have done a bit of nosing around and they do look a class act. I totally agree with your 'chasing rainbows' quote; companies like this and Hamworthy (in which I hold stock) have the potential to give generous capital returns, year on year. The shares at the moment look fully priced but I may well consider moving in on any weakness.

Fair comment hobbst - I regret not having added in last 12 months, but my attitude to risk limits investment cost on any single share to around 10K. In generally uncertain stock markets, difficult to estimate appropriate P/E but I think 20 not unreasonable for their record/markets/prospects.Gecma purchase recently quite large for them and may take time to settle in, ( might give you opportunity to consider buying on weakness) but imo they should make minimum eps this year of 24p.Yield not great at 1.5%, but safe and dividend increase highly likely this year.Did very well recently out of Domnick Hunter (another specialist engineer) whose filtration businesses proved attractive to at least two US bidders and MTI looks to me to have some parallels.

Now over 5 - results due end of March. Great long term share in my PEP.

Yes! I was in at 373p and its UP UP UP
(will prob have a slight down turn as it re-adjusts after this run)
hope the market proves me wrong though

Long term its NORTH

good luck all

Excellent results today - no debt, double digit dividend increase, good prospects on back of new products and potential of very nice litle earner in the form of property sales way over book value by 2008.Keeping mine.

Has come back a bit since the results, unlike most of its peers. AGM later this week may focus attention again on what IMO a quality business this is.

Read that short but very sweet AGM statement. Market cap still below 100M and buoyant global oil and gas exploration markets give them great opportunities. Should IMO make minimum 30p eps this year and I would not even consider selling below 6.Always DYOR.

Been in the doldrums last few months for no good reason that I can see- very little news tends to be released between half yearly figures. Interims due next month may prompt interest and unusual level of activity for them today (just over 1% of shares traded against hardly any recently) caused small tick up.Anyone else in these?

Moved up nicely last 3 weeks - interim results due 7th September.

Interims sound, if not excellent as I had hoped - sales % up more than profit because of extra R&D and additional senior personnel to develop the business. Order books very strong. On track for full year expectations, which should IMO leave them with P/E of around 15. Not cheap, but with PEG likely to be no more than 1, good long term value IMO. They remain core holding in my PEP.Always DYOR.

Have been having a look at these, do you think there is much more mileage in them or am I too late to get on board?

Welcome Maggie.You will see that most shares debated on these boards are high risk and potentially high reward - but most will lose their owners heaps of money.I have found over many years that buying and holding shares in good quality businesses, particularly smaller companies below the radar of many analysts, has made me relatively comfortable in my late middle age. These have good management, operate in growing markets, generate cash and pay a modest (but rising) divdend. Don't think MTI will make you rich overnight (unless a bid comes in) but equally they should allow you to sleep at night and in 5 years you might be rather pleased. I expect still to have mine then. Always DYOR.

Many thanks for reply just might have a dabble.

Whilst I would neither encourage or discourage you, if you have some spare cash for a decent quality small cap, have a look at RSG - I am alone on that thread too, but if I had to choose between it and MTI at present I think RSG would just about get the vote. Better yield, lots of cash and possibility of corporate activity next year - might be a little longer wait for MTI, but WDIK!

Started their seasonal run last few days, up to results in March.With their markets buoyant, results should not disappoint. Holding mine tight.

Testing highs again today - 2006 results splendid and bullish comment at AGM. Q2 of 2007 due to see launch of their j/v Industrial Ethernet security device Tofino - I am a techy dinosaur, but if it is as good as their publicity blurb suggests, it could make significant impact going forwards. Recent acquisition in Australia looks a good fit and property deal at well over book value kicks in next year. All leaves me feeling very comfortable with another in my long term PEP and ISA, but always DYOR.

Bit lonely on here, hope some of you in this one. Nice little acquisition announced today - significant potential upside and modest cost limits downside.Not cheap and maybe not for traders, but been very rewarding for patient investors over last four years (approx 4 bagger) and IMO more to come.Always DYOR

Held up well (so far!) in recent market turmoil and expect good interim figures next week. Recent acquisitions small but look well suited and should provide extra impetus going forward - not a lot of detail at time they were bought, so interested in initial impact. This quality stock remains a firm hold imo but always dyor.

Interim figures very respectable, most noteworthy for the one month contribution of recent acquisition RTK Instruments. If that figure of 112K is not a one-off fluke, then purchase cost of 3.7M (for 90%, with option on remainder) looks imo a steal. Anyone else in these/any views?

Has been resilient in recent turmoil and unusual level of activity in these yesterday/today. Curious.

Pattern in post 26 has been repeated on several days over last couple of weeks and one of very few of my generally good quality portfolio to show blue in that period. Holding tight.

MTI - looking strong as ever amid recent consolidation and takeover rumours in the FT.
As always DYOR.

Continues to power ahead. AMEC reported strong growth in the process industry sector today (and they could imo do worse than spend half their spare cash on MTI). Maybe I will buy a few Christmas presents after all...

And now it all becomes a bit clearer. This is a superb business and I hope that more than one party will now come to the table.

Formal cash offer made by Cooper Industries on 20th December at 708p, but cannot see news release to this effect? Having paid less than 1 for some of my holding and highest price 226p I cannot grumble, but still feel the buyers (well known to MTL management) are getting it cheap and it all seems very conveniently timed.