Was just looking at some of the officers options positions. I see that Rykhus has about 400,000 options and most of them are under water. 110,000 of them expire this year and are priced at $15.49 and $22.20. Most of his others (expiration dates next year or later) are priced at $30 or better, so I would assume he would like to see the share price go up also.
Wonder if they have something cooking. $50M in cash already on the balance sheet.
SIOUX FALLS, S.D., April 16, 2015 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (RAVN) announced today that it has entered into a new five-year $125 million senior unsecured multi-currency revolving credit facility.
"This new revolving facility provides us with additional flexibility to execute our long-term strategy and pursue strategic acquisitions in the future," said Steven Brazones, Vice President and CFO. "We are pleased to have access to committed financing at very attractive rates and look forward to capitalizing on opportunities to further enhance our competitive positioning and accelerate growth, particularly within our Applied Technology and Aerostar divisions."
Should be interesting. Investors are not expecting anything good from Raven, or most other stocks for that matter if you look at today's trading. I actually added some shares the last couple of days. At this point Raven may be turning into one of those accidental high yielders. Yahoo shows an estimate of $0.22 for Q4. I wouldn't expect much more than that and it could be worse. It's time for the new management to show whether they have the right stuff. They need to at least earn $1.00 per year if they aren't going to be cutting the dividend. That would still be a PE around 20 which is high for a company that isn't expected to show any growth. Past performance will only support the share price for a limited amount of time.
FWIW, I finally got around to checking the numbers on what I did this week. Sold some shares in another company that I don't think is going anywhere right away for funds. (It will probably double next week.) Anyhow, I did actually add 50% more Raven shares than I currently owned at about $18.75 per share this week. Time will tell if that was clever or just throwing good money after bad. As Skip said, I am fairly certain Dan is feeling the heat right now even if it isn't all his fault.
March 6, 2015
Q1 2015 Earnings Report
Pretty good report. Earnings were almost double from last year, but revenues were flat. Good to see they are moving money to the bottom line, but need to increase volume also. There was some negative effect from dollar strength, but Europe was actually up and NA was down. They said revenues were impacted 7% negatively this quarter. Looks like NA sales were weak due to people buying more equipment at the IMTS show in Q4 and stealing orders from Q1. I would hope Q2 will return to a growth pattern. But, orders during Q1 were down 21% overall, so that might not bode well for Q2 and Q3 sales. Cash per share is now over $9.00 per share. Just my random thoughts from reading the PR.
That deal was announced in December of 2001. Would have been a split adjusted $18 or $19 per share. Less than a double since then, I guess. Ouch.
Raven is mentioned in an article on the Huffington Post. Try searching for the title, or you can read it at the IV message board for RAVN. Too hard to post it on Yahoo.
The Monsanto Privacy Model? Monsanto and Farmer Organizations May Be Forging New Path to Data Cooperation
I assume that Tyco went into their fail mode shortly after this deal was announced. Not sure when I started following MGRC, but just happened to find this article today.
PEMBROKE, Bermuda and LIVERMORE, Calif., Dec. 20 /PRNewswire/ -- Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC), a diversified manufacturing and services company, and McGrath RentCorp (Nasdaq: MGRC), a leading rental provider of modular offices and classrooms and electronic test equipment, announced today that they have entered into a definitive agreement pursuant to which a subsidiary of Tyco will acquire McGrath RentCorp. The transaction is valued at $38.00 per share to McGrath RentCorp shareholders or approximately $482 million, based on McGrath RentCorp's 12.7 million outstanding shares. The consideration will be paid by Tyco in the form of cash and Tyco shares. McGrath RentCorp shareholders will have the right to elect the percentage of their consideration paid in cash or Tyco shares, subject to the limitation that no less than 50% and no more than 75% of the consideration will be in the form of shares.
OK, that was a lousy report with a lousy forecast for Q1 also. Films was the bright spot, but we are pricing AT as if there will never be another precision farming system sold. Are we assuming that competitors are eating their lunch, or is this just a cyclical downturn based on weak crop prices? Call me crazy, but I added more shares today at $18.00. That's almost a 3% yield if they don't cut the dividend. You would think they would be loathe to cut it after their string of 20 years or whatever of increasing dividends. So far, my bet is wrong as we are now at $17.50.
One other thought I had on tomorrow's report. After all the "right sizing" talk at the last CC, they could do a kitchen sink write off and report a loss to clear the deck for next year.
Ha. I edited this because I had "right off" instead of "write off". Guess I was thinking about "right sizing" when I wrote (not rote) the post.
This type of donation could pay future benefits as more students are trained on Hurco software.
College of Technology receives $500,000 software donation
February 23, 2015
Indiana State University students will be better prepared for the technology industry thanks to a software donation from Hurco Companies.
Hurco, a CNC (computer numeric control) machines and machine tools manufacturing company founded in Indiana, donated 100 seats of Winmax Desktop Software to the College of Technology. The value of the software is estimated at $500,000.
FWIW, Cramer is talking about the economy of Europe improving finally. He says it will be a tailwind this quarter. If so, that will help Hurco. The annual shareholder's meeting is next week also. I think I will try to attend again this year.
These guys drive me crazy. My spreadsheet with over 10 years of quarterly earnings and revenues is trashed again. They restated the last 4 or 5 years of results again. Of course, just for the annual data, not quarterly. It looks like a good earnings and revenue report, but the special events that just never quit, I can't really get a handle on how they are doing. Oh well, maybe I will take a day and just try to sort it out again.