michelet(formerCEO) automatically sells each month, one of teh Directors? bought a significant number on the public market and now has roughly twice as many shares as Michelet( guess the latter needs to sell his shares to buy groceries every month!!)In any case it wil take another 6 months or so for the insider selling to run its course.
By year end, ERII should be doing better than last year -based on the outlook guidance provided. As we all know insider purchases are not reliable as short term prospects fro a company..bu hopefully they reflect insider confidence in the medium to long term.
What has been disappointing is the sluggish growth in the pumps segment- which they acquired.. if they had supperior product technology there..this stock would be higher..
2012 estimates of cap ex for plants go for 7 to 9 bil. then the market tanks again back to 7 bil in 2013. I will be out of this by end of 2012 unless there is some move to expand the product line by acquisition or new products. Mgt is not too swift in any respect. Cash for new products is there but not being utilized. This has been a series of broken quarters with the smae old bull. We are waiting for the turn around.
I will wait for it to hit $1+ in the coming correction and buy 1/2 of what ia have now. This has to happen for any new capital for mel With new orders in the pipeline it may rise in the next bull market. Also, better move on some new applications soon.