Does anyone have any feelings for Yule Catto?

I sold short on CFD a few weeks back but now they seem to be on the way back up.
They seem to be building support at 240 and are testing the 270.

If any has any opinions on which way they're heading, I greatly appreciate.

Graham

Something to do with the rights issue???

EDIT
Have just seen the RNS:
StockMarketWire.com
Yule Catto shareholders have approved the 4 for 3 rights issue of 194.2m shares at 116p and the acquisition of PolymerLatex Deutschland Beteiligungsgesellschaft.

Missed this over the xmas period.

Date Broker name New Price Old price target New price target Broker change

16-Dec-10 Brewin Dolphin Buy 202.79p 400.00p - Upgrade

400p SP target.

Good news here though.... Robbie Burns back on market this afternoon after hols...........

I took up the excellent Yule Catto (YULC) rights issue so that gives me 2,666 more Yule shares at 116p and on the spreadbets that gives me another 65 a point at 116. Looks like a brilliant buy for Yule which will transform it into a much bigger company and looks like an excellent hold probably for a couple of years. I would expect to see the shares double from here in time.

http://www.nakedtrader.co.uk/index.htm

GF - Well done, looks like you have timed your entry brilliantly. Unfortunately I was erring on the side of caution with a limit buy @ 222.0 ensuring 200 DMA broken. Chances are now with that broker upgrade and if Indices have a good surge early doors that entry will be blown away. So will wait and see how it plays out. Take it you opted for quarterly spread bet?

Cheers Chris

Yep chris. I dont hold these days for so long.

How did you go on with that MACD memo I sent you?.

Cheers GF brilliant thanks!

Chris youl find itws flagged IOM up. Looks like positive macd divergenc on this one. not got through all the list yet.

Cheers GF.

Aye spotted it GF, but to be honest with seven open positions (spread bets) at the mo, don't really need any more for now. Cheers for the heads up anyway :O)

Good thinking especially chris with the market looking a little stretched and volatile at the moment. Well done thats a good sign.

Successful completion of Rights Issue and placing of rump
Yule Catto & Co plc announced previously that, as at 11.00 am on 17 January2011, being the latest time and date for acceptance and payment, it had received valid acceptances in respect of 186,742,556 New Ordinary Shares, representing 96.15per cent. of the total number of New Ordinary Shares offered to Shareholders, pursuant to the Rights Issue announced by the Company on 13 December 2010.

The Company confirms that, in accordance with the arrangements set out in Part IV of the combined circular and prospectus published by the Company in connection with the Rights Issue and sent to shareholders on 13 December 2010 (the "Prospectus"), the Joint Bookrunners have procured subscribers for the 7,475,026 remaining New Ordinary Shares, for which valid acceptances were not received, at a price of 217 pence per New Ordinary Share.

The net proceeds from the sale of such New Ordinary Shares, after deduction of the Issue Price of 116 pence per New Ordinary Share and relevant costs (including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable), will be paid to those Qualifying Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than 5.00 and fractions of a pence will not be so paid but will be retained for the Company's own benefit.

Sp recovering nicely. I wonder if they will re-instate their final divi due in about April?

StockMarketWire.com
Yule Catto raised to overweight from neutral at JP Morgan.

StockMarketWire.com
Chemicals group Yule Catto & Co plc said it has received clearance from the German Federal Cartel Office for its acquisition of Polymer Latex.

Completion of the acquisition remains subject to approval from the Spanish National Competition Commission.

Apparently, sp drop in the last few days may be due to
worries about petrochemical costs and margins (recent FT)


Preliminary 2010 plc Earnings Release March 9th..

Further to the announcement of 13 December 2010, Yule Catto & Co plc announces that it has received clearance from the Spanish National Competition Commission to proceed with the acquisition of PolymerLatex Deutschland Beteiligungsgesellschaft mbH ("Polymer Latex"). Completion of the acquisition is expected to take place at the end of March '11.

And sp up on announcement on a bad day.
Looks promising.

Brokers like the stock YULC, Forward P/E of just 12.3 to finals EPS of 17.56 Reckon that will be beaten.

Yule Catto & Co PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Brewin Dolphin
01-03-11 ADD 46.32 16.00 3.80 84.20 18.20 2.30
Altium Securities
03-02-11 BUY 46.60 25.50 5.00 90.80 20.00 3.00
The Royal Bank of Scotland NV
25-01-11 BUY 46.56 15.32 3.48 54.71 17.72 5.99
Numis Securities Ltd
14-12-10 ADD 47.10 10.49 2.38 91.60 13.07 3.35
Collins Stewart
11-11-10 BUY 15.71 17.25

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 46.60 17.32 3.81 82.58 17.56 3.35
1 Month Change -0.03 2.65 0.56 8.57 0.61 -0.54
3 Month Change -0.04 -6.82 -1.53 29.53 -9.69 -4.27


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 1.42% 11.93% 1.39%
DPS % % -12.00%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 63.80m 70.74m 99.73m
EBIT 49.13m m m
Dividend Yield % 1.75% 1.54%
Dividend Cover x 4.55x 5.24x
PER 14.03x 12.53x 12.36x
PEG 9.85f 1.05f 8.88f
Net Asset Value PS -34.03p 39.82p 52.80p

Market is clearly not impressed with reasonable results from YULC. Sp down 6% this morning.

StockMarketWire.com
Chemicals group Yule Catto & Co plc delivered a 19% improvement in underlying pre-tax profit for the year to December with a further substantial reduction in its net debt.

Profit before tax and special items rose to 47.0m from 39.6m.

Total sales increased by 21% to 645.8m, driven mainly by the recovery of input price increases and volume gains in the Polymer business.

Earnings per share were up 22% at 16.2p from 13.3p.

Net debt fell to 63m from 88m.

The group resumed its final dividend with a payment of 1.3p a share, after returning to the dividend list with an interim payment of 2p.

CEO Adrian Whitfield said the highlight of the year was the transformational acquisition of PolymerLatex announced in December, which would substantially increase the group's scale and growth opportunities. Eventual annual cost synergies of 20m were expected.

The group's core business of Polymers accounted for 85% of revenue in 2010 and 88% of divisional operating profits. Volumes were ahead in most areas of the business and operating profit increased by 10% to 56.7m.

In the Pharma division, business started slowly with a weak first quarter but performance improved during the year. Full year operating profit was 1.1m below the prior year and the business now represented just 10% of group revenue.

The one remaining Impact business, William Blythe, continued to improve, generating 3.5m of operating profit.

Numis has downgraded YC to hold with TP 223