Dull business but cracking chart, great dividend and ad hoc takeover rumours. I'm happy to settle for that kind of dull!

Correct. FT is a generic term, as all articles therein are written by individuals.

Quite a surge on this one.....very bullish update has probably done it !.

MoneyAM
"First half pre-tax profits at reinforced polymer technology specialist Fenner fell to 12.1m from 16.2m last time. Revenue increased by 28% to 257.6m, assisted by well performing acquisitions, and the firm is maintaining its interim dividend at 2.2p, which, it says, reflects confidence in its prospects.

Chairman Colin Cooke said the conveyor belting division - which represents 70% of revenue - had demonstrated resilience over the period.

He added: "There now appear to be more signs of stability with the effects of customer de-stocking coming to an end in some of the industrial businesses.

"This has not yet given rise to a significant increase in volumes but action has been taken to adjust our costs appropriately in each business."

It's those lines that made me climb aboard a few days ago.....It impressed me as well !.

Goes ex-divi 29th July '09. (2.2p)

still looking good for a rise towards 200p IMHO

set my TP to 220p what with bid rumours always circulating and the outlook being much improved now

broker target is 170p and that is 20%+ to current SP and that is conservative

who is watching these from the sidelines then eh?

to buy you have to pay a premium

sell and they are paying you a premium

they want your stock me thinks and this is only going to be moving in one direction and pretty rapidly DYOR as always

.

.

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buyers trickling in and look at it move alot more to come IMHO

still on the sidelines eh?

.

160p close at least IMHO with more to come on this breakout

Fenner FENR just about to break out..

Prospective P/E of just 10.6 going up to results in 2011, way undervalued I reckon.

Little wonder most of the brokers have a BUY reco placed on it.....

Fenner PLC

FORECASTS
2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
07-01-10 BUY 36.86 14.62 6.60 53.06 21.87 7.26

Arden Partners
06-01-10 ADD 36.00 14.62 6.60 42.00 17.06 6.60

ABN AMRO
22-12-09 BUY 35.01 14.12 6.60 42.20 16.98 6.90

KBC Peel Hunt Ltd
22-12-09 BUY 37.20 15.01 6.60 45.50 18.34 7.00

Collins Stewart
14-12-09 BUY 14.50 16.60

Eden Group
02-12-09 BUY

Brewin Dolphin Investment Banking
12-11-09 BUY 37.20 15.10 6.60 45.00 18.00 7.00

Numis Securities Ltd
11-11-09 ADD 36.50 14.80 6.60 46.50 18.50 6.90

Fyshe Horton Finney Ltd
31-03-09 HOLD

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

Consensus 36.44 14.63 6.60 44.03 17.53 6.95

1 Month Change -0.50 -0.04 0.00 -1.63 -0.44 -0.02
3 Month Change 2.49 1.05 0.00 1.83


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

Norm. EPS -24.98% 9.94% 19.82%
DPS 6.02% 0.00% 5.30%

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

EBITDA 57.50m 65.40m 72.92m

EBIT 35.70m m m

Dividend Yield 3.52% 3.52% 3.71%

Dividend Cover 2.02x 2.22x 2.52x

PER 14.08x 12.80x 10.68x

PEG -0.56f 1.29f 0.54f

Net Asset Value PS 17.05p 112.41p 117.63p

Fenner FENR on the verge of a breakout.

Check out the Buy volume V the Sell volume.



Broker as a 272p SP target.

07-Jan-10 Fenner FENR Panmure Gordon Buy 187.30p 272.00p

272p target.

StockMarketWire.com
"Fenner's third quarter revenue and underlying operating profit were well ahead of the comparable period last year.

It said trading in the advanced engineered products division has exceeded expectations, with growth from the underlying recovery in industrial markets, particularly the US, supplemented by a re-stocking of supply chains in certain operations.

And it said the conveyor belting division, which was largely unaffected by the economic downturn, has continued to perform well."

Fenner Plc (FENR) Ex-dividend (2.4 GBp) 28th July '10.

Lovely chart.

Fundies very cheap aswell. (hemscott premium)

Forward P/E to 2011 just 11.8 and EPS rise of 17%....... I think thats very conservative lets not forget before the recession these were trading on a P/E of between 15 and 20.

Recent Broker SP targets 270p and 290p.

Fenner PLC

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

Panmure Gordon
23-07-10 BUY 44.90 17.40 6.80 58.80 22.10 7.14

Arden Partners
22-07-10 BUY 45.00 17.20 7.20 55.00 20.00 7.80

KBC Peel Hunt Ltd
22-07-10 HOLD 45.00 17.37 7.20 55.00 19.92 7.90

Brewin Dolphin Investment Banking
22-07-10 BUY 43.00 16.50 7.20 51.80 18.50 7.50

Collins Stewart
19-07-10 BUY 16.00 18.20

Numis Securities Ltd
19-07-10 BUY 45.00 17.20 7.20 54.60 19.80 7.70

Eden Group
03-06-10 BUY

Fairfax IS
28-05-10 BUY 42.50 15.90 7.20 52.40 18.70 7.80

The Royal Bank of Scotland NV
04-05-10 BUY 38.01 15.28 6.60 44.20 17.79 6.90

Fyshe Horton Finney Ltd
25-01-10 BUY

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

Consensus 44.31 16.93 7.20 53.81 19.19 7.73

1 Month Change 2.09 0.67 0.03 1.25 0.13 0.23
3 Month Change 5.84 1.45 0.60 5.46 -0.28 0.71


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

Norm. EPS -24.98% 27.21% 13.36%
DPS 6.02% 9.09% 7.39%

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

EBITDA 57.50m 73.29m 81.25m
EBIT 35.70m 52.70m 62.90m
Dividend Yield 2.91% 3.18% 3.41%
Dividend Cover 2.02x 2.35x 2.48x
PER 17.04x 13.40x 11.82x
PEG -0.68f 0.49f 0.88f
Net Asset Value PS 17.05p 113.58p 119.59p