Brokers Hargreave Hale gave the following Valuation for HMY

VALUATION
The nearest comparisons to this Group are Sondex, trading on a current year multiple of 14 and Weir Group which typically trades on multiples of 12 plus. We would argue that Hamworthys prospects are brighter than both these companies in view of the strong order book and the global positioning. Fully taxed earnings of 13p this year and 16.5 p for the 2005/6 end March, suggests a current year PE of 9.9x and a prospective PE of 7.8x. There is a prospective yield in excess of 4%. If trading on a similar PER to Sondex the shares would be valued at in excess of 180p. We would argue that a premium to Sondex is justifiable, in particular because of the potential ramp up to sales as a result of the new product pipeline now gaining client acceptance in what is in any event one of the fastest growing markets in the world.

"Shares" Article relating to Hamworthy (HMY) posted below for info.

With a following wind these shares should double over the next year or so.

Some catty folk in the City say the flotation last month by Collins Stewart
could have been handled better, i.e. at a higher price. It was certainly over
subscribed but the rating is half that of similar oil sector service companies
including Sondex.

Can't help but smile everytime I check the price and it has moved up further!!

Its certainly motored over the last few days Jason. You should be well up.

cheers Gf.

Yep sure am, glad I took the initial gamble and got in early. It's encouraging to note that when the share price started to move, the larger orders of 1k+ were getting a good discount, this no longer appears to be the case if you look at the last few buys of up to 6k, could be due another tick up before close of play!!

Big Smiles, J.

GF, and up she goes again, as hoped and predicted!!

Information gleaned from another BB but posted for your info. Will try to get the full article and post for further info.

Brokers Hargreave Hale gave the following Valuation for HMY

VALUATION
The nearest comparisons to this Group are Sondex, trading on a current year multiple of 14 and Weir Group which typically trades on multiples of 12 plus. We would argue that Hamworthys prospects are brighter than both these companies in view of the strong order book and the global positioning. Fully taxed earnings of 13p this year and 16.5 p for the 2005/6 end March, suggests a current year PE of 9.9x and a prospective PE of 7.8x. There is a prospective yield in excess of 4%. If trading on a similar PER to Sondex the shares would be valued at in excess of 180p. We would argue that a premium to Sondex is justifiable, in particular because of the potential ramp up to sales as a result of the new product pipeline now gaining client acceptance in what is in any event one of the fastest growing markets in the world.


J.

This one is turning into a real beaut !!!

Excelent Broker note Jason.

cheers GF.

Come on Jason , get your finger out LOL, more sells than buys for the first time in ages.

cheers Gf

Now buys are ahead.

cheers Gf.

Had to give a few buyers a nudge this morning, slackers, lol.

Got to move up soon 74k buys v 16k sells.

cheers GF.

gf, we could do with a couple of slow days as far as upward movement goes to make sure the price does not get ahead of itself. Another day like today with plenty of buys but only a small price movement will be good I think. Then again I could be wrong, so GOOD advice is always greatly recieved.

The higher the better Jason.

We had a day like this last week when it didnt move. The day after it shot up.

cheers GF.

Hamworthy has had another mention in Shares mag today - don't know what they've said, I haven't seen it yet.

Cheers Frampton, beginning to think about subscribing to the Shares mag while I hold HMY. Anyone able to post the details of the article?

J.

As noted by the FT:-

The Shares Magazine 15 tempting targets: GEEST, MOLINS, BAE SYSTEMS, DICOM, NSB, ICM COMPUTERS, JOHN WOOD, HUNTING, ........."HAMWORTHY"......, SONDEX, ICI, BOC, ELEMENTIS, CRODA, BRITISH VITA - Plays of the week: COMPUTERLAND (buy), BOND INTERNATIONAL (buy), CHORION (buy) - Play Updates: BRITISH ENERGY (risky buy), OCEAN POWER (buy), MELROSE RESOURCES (buy)

J.

Quiet days trading today, just what we needed.

What a boring day all round. Bring on Friday.

cheers Gf

With you on that one GF, would have liked to see a few more buys coming in today but you can't have everything. I'm still trying to get hold of the article in Shares mag to post on this site but not having much luck at present.

Hi Jason, I've been out all day, just got back in and seen the article. It is about British companies which would be most susceptible to foreign takeover bids - due to the PE rating being significantly lower than the markets in the US and Europe. It lists 15 companies in 6 sectors.

"Oil Services - The half-dozen UK quoted oil services companies look cheap compared with their American counterparts as their average PE rating of 16 is a third of the US average of 48.
The UK companies have mostly preformed poorly over the last few years but are now seeing the shoots of an upturn. This makes it a good time to buy as the international oil sector is short of supply and will be investing around $4 trillion over the next decade in constructing and servicing new oil fields......
HAMWORTHY - Recently tipped as a Shares Play and has since risen 5% to 140p, where it still looks cheap.The company is a world leader in marine fluid handling for oil and gas with particular expertise in LNG.
House broker Collins Stewart says the PE of 10 for 2003 sould fall to just 6 in 2006, maintaining the enviable growth record."
(Also reccomended in the same sector are John Wood Group (WG.), Hunting (HTG) and Sondex (SDX).

I subscribe to Shares but I think the best thing that comes from it is the access it allows to MoneyAM. (Occasionally I find the magazine a useful starting point for further research.) They are obviously keen on this share though so if you want to hear positive things on a regular basis, subscribe!
Frampton