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Buy @ $1.435
Decided to add back to my portfolio, but, at a higher than my last sold price. Further, just missed out on their recent US4ct (interim + Special) dividend. Current price weakness may be due to the uncertainty in the Middle East (due to Syria). Sarin is an Israeli co. although most of their facilities are overseas eg. India, to be near their major customers.
Since my last vesting, they have continued to grow their Revenue & Profit, with focus on new recurring streams. Using FY12 results, PE = 18.26 ; Yield = 3.606% (incl. Special Div) is not very attractive unless growth continues (am betting on that). Additional attraction is no Debts + Cash = 12.72ct/share (likely lower in next Quarterly results, after 4ct Interim Div payout). Key risk is the dependence on the economy as their customers' end product are Diamonds where demands will be typically lower during recessionary times. Price and supply of diamonds by DeBeers (major supply of diamonds controlled by them) can also affect their biz. 😀
Sell @ $1.40 & $1.405
Managed to sell everything today as there was a buyer. After I sold some @ $1.40, I noticed that someone was doing a buy every ~5mins (perhaps programmed buying). Decided to Q to sell @ $1.405 and slowly fed it as it gets cleared. same Buyer CP '78' – Merrill Lynch.
At $1.05, PE = 18.39 ; Yield = 3.58%. If we were to assume Net Profit is going to grow at the same rate of 20% as last year, the PE is actually quite ok. But, decided to take the cue from the management which'd sold all their Treasury Shares (from Shares Buy Back) ie. they must think current valuations must be more than fair. Anyway, market continues to be bullish, may not be able to get back at lower prices, like many of those I'd sold… 😀
Sell @ $1.40
Only 2 lots done, driving my unit price to $1.3875 due to the minimum $25 commission. If it's any consolation, it's still higher than the $1.36 ones I'd sold earlier. The buy-sell spread is just too wide and volume too low for me to sell more. Will continue to sell at aro' $1.40 for my balance lots, no rush, can keep for the dividends also. 😀
Sell @ $1.36
Kind of regret not selling when it hit $1.4x the other week. Today, I'm quite spooked by the market reaction to the Cyprus bailout. As such, I have decided that at PE = 17.71, Sarin looks like a likely candidate to correct more severely if mkt turns real bearish. This is despite a Growth of Revenue (10%) and Net Profit (20%). I think better safe than sorry as after all, their biz is very dependent on the state of the economy.
Someone is patiently collecting at $1.36 but must have been frightened off by my continuous selling to them whenever they put into the Buy Q. Buyer CP '08' = Credit Suisse & '83' = CitiGroup. 😀
Buy @ $0.875 & $0.87.
Went to Q and got caught in a sell-down. Low now is $0.86 and Buy Q = $0.845. Looks set to go lower as seller is still sround. I have some more in Q @ $0.83. 😀
1:09PM
Buy @ $0.855. Looks like programmed selling @ $0.855 as it's immediately done the moment I submit to the Buy Q. Seller CP '39' – Instinet, different from earlier '73' = Macquarie & '17' = CIMB.
Buy @ $0.965
The moment I put in Buy Q, it got done! Tried again with just 1lot and same thing happened. Someone from Seller '78' = ML has programmed to sell @ $0.965! Decided to be cautious…
Q3 results was out yesterday and EPS = 0.75ct vs Q2 = 1.95ct. Looks bad despite guidance given in Q2. But, forward guidance is positive altho' unlikely to return to Q2 level of EPS.
5:05PM
Buy @ $0.955. Jump-Q but only partially done. Someone must have jumped in front of me with a higher bid.
Buy @ $0.975
Add to my small collection. Had been dropping since it hit a high of $1.05 (intraday) last week. Was thinking of selling @ $1.01 just a couple of days back but changed my mind. Will collect more on weakness but be prepared for a worsening Q3 (Sep) results as per guidance. Recent news was positive for the raw Diamond front and will hopefully, spill over to Sarin. 😀