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Buy @ $3.88, $3.86
Prices are falling every day! One possible reason from SGX Annc after mkt closed… The issuance of 2 MTNs of $275m @ 2.95% & $325m @ 3.85% to fund the construction of a new yard (ongoing) and a new steel facility. Expected completion aro' Q315, which means Interest Expenses of $20.625m / yr or -3.51% impact using FY13 EPS.
Buy @ $3.91, $3.90
I had been wanting to buy back some and was quite prepared to buy at $3.93. Good thing I held back from buying when it first hit $3.92 this AM as the selling seems very strong… perhaps a Fund doing a rebalancing.
For SembMarine, altho' the Yield = 3.3% is on the low side, I'm more attracted to the PE = 14.4 (latest 4Qs) vs other Yield Stocks which are closer to 20. Let's hope this provides some margin of Safety….. 😀
Sell @ $3.96, $3.97
Conra off and sold an earlier batch at a loss (Profit after Div). Yet another of my target for Yield Rotation Strategy that didn't work out well before it went xd. As the Quarterly EPS was better y-o-y, I had added more after xd and further price weakness. This can form another criteria when deciding on target stock for the Yield Rotation Strategy ie. Better EPS, in cases where prices drops, this provides better comfort to add more and potentially for longer term hold.
As the PE is quite ok for me, I may add back on price weakness. 😀
Buy @ $4.02
It's been many years since I last sold my last lots. Itchy fingers, add back to my portfolio.
Q2 results were out last evening. As expected, EPS was better y-o-y and 1H Div = 5ct maintained. PE = 15.14 (FY13) or 14.87 (latest 4Qs) ; Yield = 3.23%. Further, the Order Books is healthy.
So, why the sell-off? Vol = 7,835,000 ; Range = $4 to $4.09 ; Close = $4.03, -7ct. 😀