# MXI - MaxiPARTS Limited



## Seneca60BC (14 October 2006)

Hello Investors,

This is my first post here so be gentle.

What are your thoughts on MXI - Maxitrans Industries, for the next 12 months.

I like this stock because:

1.  The organisation has had a rough year last year, however the new acquisations and issues that have been doing badly have been addressed.
2.  The management seems quite stong given ROA in the high teens for a number of years.
3.  Currently, I suspect that the market has over-sold the stock.
4.  Financially, the company is in a good position with low debt.

So what are your thoughts - both negative and positive.

Thanks


----------



## stockpanther (15 October 2006)

Seneteca - I share your opinions on MXI. 

It's on my watchlist to study further but from my initial investigations things did look promising though.


----------



## Seneca60BC (15 October 2006)

Hi StockPanther

Thanks for the feedback - one thing I should add to this stock is:

1.  The drought in Australia is not helping with the order book so there is some risk here.  The company has indeed diversified into other areas so that should smooth out any earnings volitality.  

Regards,
Seneca60BC.


----------



## tasmanian (15 October 2006)

I agree as well on maxitran.it did have a few drama last year but is profitable and profit has been increasing yearly.

Mxi is trading in a nice channel now,also on my watchlist.if it breaks through the upper resistance around 58c on volume it will be off the watchlist and in the own watchlist.

I personally cant see any reason to buy until it breaks out of the channel it is currently trading in.once it breaks this it will be a good buy imo.


----------



## Seneca60BC (15 October 2006)

Hi Tasmanian

I guess you are a chartist right?  I don't know much about the TA side of things so it is with pleasure to read your thoughts on MXI.

Cheers
Seneca60BC.


----------



## tasmanian (15 October 2006)

seneca60bc,

Well i try to read charts.Have been for many years now.Also look at fundmentals as well.Still use pretty basic charting methods.Has worked for me over the years.

Mxi after its recent drop has been in that channel for about 4-5mths so  if you buy now you could be sitting in that channel for another 4-5mths.Your capital going nowhere!!!It could break anytime just have to be patient and wait for it.

So best to wait until it breaks out of that channel.Upward breaks from sideways channels are usually quite profitable.If it does break 58c and volume starts to rise I would expect it too at least get to its last level before the drop which was around 80c.

best of luck with it I will be watching!!!!


----------



## Seneca60BC (15 October 2006)

Hi Tasmanian

Well this Friday the 20th is the Annual General Meeting so we may see the stock move in either direction - hopefully north hehe.  Yea according to my calculations I have this one at 87 cents exit price, ceteris paribus.

Cheers,


----------



## tasmanian (15 October 2006)

thats good news.I didnt realise the annua l meeting is the 20th.that might give it the push we need.ill watch closely friday/monday

ceritus paribus.

whatever that means


----------



## Seneca60BC (15 October 2006)

tasmanian

Ceteris Paribus is latin for "all easy being equal" or "no major changes".

Regards
Shelton.


----------



## RichKid (20 October 2006)

I like this stock too Seneca, stalking it atm, expecting a major bottom to form soon (if it hasn't already), price action has to resolve itself first, a bit of toing and froing over the last few weeks, could make new lows or retest the recent low, still in a downtrend.


----------



## Seneca60BC (20 October 2006)

oh dear!! taking a hammering at the moment- market does not like the presentation -richkid.

BTW - ceteris paribus means "All things being equal"


----------



## Seneca60BC (6 November 2006)

tasmanian said:
			
		

> seneca60bc,
> 
> So best to wait until it breaks out of that channel.Upward breaks from sideways channels are usually quite profitable.If it does break 58c and volume starts to rise I would expect it too at least get to its last level before the drop which was around 80c.
> 
> best of luck with it I will be watching!!!!




Hi

It looks like it went past 58cents today and high of 60cents - so anyone get it?  and what does the charts say now?

Regards


----------



## Novski (12 December 2006)

Seneca60BC said:
			
		

> Hi
> 
> It looks like it went past 58cents today and high of 60cents - so anyone get it?  and what does the charts say now?
> 
> Regards




Yes, it did close at 58.5c Seneca, but it was not quite convincing enough. 

A breakout above 60c should be convincing enough IMO. It is starting to gain some interest judging by volume, eventhough in the last few days it has retraced back in the lower end of the trading channel.


----------



## Seneca60BC (12 December 2006)

Profit Warning came out today - boy the management are really virtuous.  That's one thing I really admire - no bull****ting round.


----------



## hypnotic (12 December 2006)

This one looks good to me for the long term,   

I am looking at this one closely.

For those that havent read the smart investors, this is an extract from them about MXI from this months mag:

"Mangement expects the trailer and van segment to remain subdued in 2006/07. The shortage of skilled labour, a factor that weighed on Maxitrans in 2004-05- is likely to provide further challenges in 2006-07. Maxitrans has a market-leading postion as a manufacturer and distributor of a wide range of raod trailers, including prominent brands such as Freighters, Maxi-Cube and Hamelex White.
   Based on 2006-07 concensus forcast, Maxitrans appears oversold. With an attractive PE ratio of less than nine and a dividend yield of about 8%, further downside seems unlikely . While cyclical pressures will always create challenges, the best time to buy is at the bottom of the cycle."

Any thoughts?   

Hypnotic


----------



## Seneca60BC (13 December 2006)

hypnotic said:
			
		

> This one looks good to me for the long term,
> 
> 
> Hypnotic




Good Management, Profit made every year since listing, divs paid every year since listing, quality products, attractive yield - yes indeed a valuable long term buy.


----------



## britishcarfreak (13 December 2006)

Very large volume today with very little price movement, RSI upturned, could this be about to move (i mean up - back to 60c i.e. near 20% movement)?


----------



## nizar (13 December 2006)

Seneca60BC said:
			
		

> Good Management, Profit made every year since listing, divs paid every year since listing, quality products, attractive yield - yes indeed a valuable long term buy.




Indeed.
Almost 8% at these prices the yield.


----------



## mmmmining (13 December 2006)

nizar said:
			
		

> Indeed.
> Almost 8% at these prices the yield.




Remind me of ARL


----------



## britishcarfreak (11 January 2007)

Most definitely testing a 60c ceiling here.  Could well be about to break through.  MACD looks good.  Shame the volume's not bigger.

Very tempted to sell today but should wait for test of the 60c mark I think.


----------



## britishcarfreak (12 January 2007)

It has broke 60c - *hit 62.5 cents* - a 6 month high - given new support I'm fairly confident this will go up over the next month or so.  Seems like faith is restoring and the coverage from Smart Investor and the like is surely helping.


----------



## britishcarfreak (15 January 2007)

Yanking my own chain here as noone else seems interested but this stock is definitely on its way.  It's broken out of a channel and going for it.  Currently 65c.


----------



## Novski (15 January 2007)

Looking good BCF, nice breakout at the end of last week. I would probably invest here at this breakout, but have my $ elsewhere at the moment. 

Good luck


----------



## nomore4s (15 January 2007)

Looking good BCF, closed at 0.655c. I'm a relative newbie but have been watching this stock for awhile. 

This is one of my first investments - besides a few longer term blue chip stocks.


----------



## britishcarfreak (15 January 2007)

Sweet.  Next question... where will it end?  

I put in a sell at 74.5c just in case it goes at the same rate tomorrow when I'm at the cricket - as I'm happy to get out.  

Given the entry of mine at 53.5c the yeild is great but my holding is too small to really use this as a reason.  I think I'll take the capital gain and get out.

Does anyone think we could see $1 like 2 years ago?  As much as the stock seems really well managed and gives good dividends I'm just not sure that the industry sector has the environmental conditions at present to shine above it all.  Still... with the coverage it's been getting maybe I should stick with it a bit longer.


----------



## Novski (15 January 2007)

With a breakout waiting to happen for the last seven months and now that it has, i think it will have the strength to climb for a while. About 85c might see it as its next main resistance. 

Just my opinion BFC. I'm not holding either so, DYOR


----------



## nomore4s (17 January 2007)

mmm, seems to have stalled a bit.


----------



## britishcarfreak (24 January 2007)

I've lost my patience and exited at 63.5c  It looks like it will go sideways for a while.  I think it stalled it's run when PPT offloaded some of their stock to change their substantial holding.  This still seems fundamentally good and the yield is attractive.


----------



## Seneca60BC (5 February 2007)

Hi

I am still in - for me personally - management competence is paramount.

Regards


----------



## Seneca60BC (16 February 2007)

MXI reports come out next week - at the current price do you think the market has gone little overboard  - I mean fundamentally nothing has changed, the drought is still there and Oil is at approx $60US.

Can we expect a drop in share price next week ?

Cheers
Shelton.


----------



## CanOz (16 February 2007)

Seneca60BC said:
			
		

> MXI reports come out next week - at the current price do you think the market has gone little overboard  - I mean fundamentally nothing has changed, the drought is still there and Oil is at approx $60US.
> 
> Can we expect a drop in share price next week ?
> 
> ...




Personally i think this looks good from a technical point of view. I know someone else who likes it too, should he care to post some video analysis?

Cheers,


----------



## Seneca60BC (16 February 2007)

lovely chart - thanks Canaussieuck.


----------



## Seneca60BC (21 February 2007)

Profit of $3.5 million - was expecting a larger profit - however MXI say 2H07 will be significantly higher to 1H07 - 

Do you think $10 million 2H is achievable - I think more like $8 million.

Cheers


----------



## Seneca60BC (22 February 2007)

What's up with MXI today, can anyone explain this vicissitude ?


----------



## Seneca60BC (27 February 2007)

MXI hit 70 cents! WOW what a run!!  Anyone else on this one ?


----------



## Seneca60BC (27 February 2007)

Seneca60BC said:
			
		

> MXI hit 70 cents! WOW what a run!!  Anyone else on this one ?




i guess not.


----------



## thomas@tac.com.a (19 November 2007)

MXI has not had any comments for sometime its a good long term company for growth and div`s but not so exciting for traders


----------



## Seneca60BC (19 November 2007)

thomas@tac.com.a said:


> MXI has not had any comments for sometime its a good long term company for growth and div`s but not so exciting for traders




Yes ur right - dont know why this stock price has not been trading in the 70cs price range - even with their order book very strong - the only reasons i can think is the interest rate rises and fuel prices being so high.


----------



## boid (10 August 2008)

if you like mxi then check out adg - similar industry and both expecting lots in fin results, but seems like market not much interested.  lots of director buying in adg...dont see much in mxi.   I am in both


----------



## skc (29 March 2012)

MXI earned ~3.3cps in H1 and flagged strong momentum into H2. The acquisition of synergistic operation in QLD announced earlier this week resulted in the most recent leg up. That acquisition is said to be EPS accretive from the first year. So an 7c EPS or higher isn't out of the question. Currently at 50c means an undemanding PE of ~7x. Dividend of 2c in H1 annualises at 7.8%.

The nearest comparable is SNL which trades at ~9x, while something bigger like BKN trades at PE ~14-15. So plenty of upside if the EPS can be achieved.

On the charts, MXI is heading into a very important price zone. I think they will consolidate between 50-60c before reaching further up on any trading update (or wider market strength). 

I hold from ~40c average.


----------



## skc (29 March 2012)

Forgot to attach a chart...


----------



## Gringotts Bank (18 May 2012)

I feel reasonably comfortable buying this today.  

Yesterday's announcement is quite amazing.


----------



## skc (18 May 2012)

Gringotts Bank said:


> I feel reasonably comfortable buying this today.
> 
> Yesterday's announcement is quite amazing.




$12m NPAT which is ~6.52cps. H1's earning was 3.3cps so basically not that different to the market's expectation back in Feb.

But considering it is mining related, the share price has probably outperformed your average mining services by 25% of late.


----------



## Country Lad (19 October 2012)

Surprising there has not been more comment on this one, probably because it is not a mining spekkie.

One of those boring safe little industrial companies outperforming the rest of the market by good mangement and foresight.  Steadily up 250% over the past 11 months. I got in a little late at 56 in May.


----------



## Country Lad (22 January 2013)

This could very well be about to break out again.  Good company, and there is the possibility of an upbeat report.

I have been in and out of this one and still have some from 60 cents.  Will be in again if it breaks.

Cheers
Country Lad


----------



## tinhat (4 November 2013)

Quite a bounce today. Up 15% so far. Once the share price settles down it could be range bound for a while. Not sure if we have seen the bottom yet either - a wedge is forming on the weekly chart. On the fundamentals I think this company is more likely to perform rather than disappoint. I haven't owned it but it could be a good dividend stock. Wish I had bought it a year or two ago.


----------



## Country Lad (4 November 2013)

I was well and truly stopped out of this one in March.  Lost interest as it continued in downtrend.  I quite like the company and agree it will come back.  Right now it appears that the market has woken up that the fall in share price, which was based on the lower projection for 2014, has been a bit overdone.  Whether that continues is anybody's guess.

Cheers
Country Lad


----------



## So_Cynical (24 February 2014)

In at today's low $1.09 with the super fund...trade going perfect so far with today's close of $1.165 

The HF results were as expected, trading conditions are soft as is the outlook, things will get better over time as this is a somewhat cyclical business, a large player filling a somewhat large niche market with manufacturing operations in China and Australia.

http://www.asx.com.au/asxpdf/20140224/pdf/42my0vyy3w4mg5.pdf


----------



## tinhat (24 February 2014)

So_Cynical said:


> In at today's low $1.09 with the super fund...trade going perfect so far with today's close of $1.165
> 
> The HF results were as expected, trading conditions are soft as is the outlook, things will get better over time as this is a somewhat cyclical business, a large player filling a somewhat large niche market with manufacturing operations in China and Australia.
> 
> http://www.asx.com.au/asxpdf/20140224/pdf/42my0vyy3w4mg5.pdf




It's been on my watch list for some time. I've only just glanced over the headline figures. Outlook is for a similar result to the first half which would put EPS at around 11c and I assume the dividend at 7.5c per share.


----------



## So_Cynical (25 February 2014)

tinhat said:


> Outlook is for a similar result to the first half which would put EPS at around 11c and I assume the dividend at 7.5c per share.




Around 9 or 10% gross...and this is with no improvement...SP touched $1.20 intra day.


----------



## So_Cynical (4 March 2014)

So_Cynical said:


> In at today's low $1.09 with the super fund...trade going perfect so far with today's close of $1.165




12% in 8 days was enough for me...out today at $1.23 ~ did the usual and left profits in with an equal amount of capital for long term growth and dividend flow...keen to re-enter on the ex dividend weakness or any other weakness.

Only the 3rd time in over 120 trades - 6 years that i have actually nailed a bottom..its nice to get it right once in a while.


----------



## icemanmelb (23 April 2014)

What a horrible update. There earning were down 15% than what analyst expected and the current earnings per share works out to around 84c mark. Not sure if that's what the market will push it down to but never the less, are the any more bad news?

Ice


----------



## So_Cynical (24 April 2014)

icemanmelb said:


> What a horrible update.




Agree, MXI on the top of my hit list now...should have some money free in the middle of next week.


----------



## Cam019 (16 April 2017)

*MXI* showing resistance around the 0.77c - 0.78c area. We can see some strength on Tuesday and Thursday as the price makes its way back towards the level of previous resistance, closing on the days highs with low volume, supply has withdrawn. Could be a sign of a potential breakout through 0.78c.


----------



## galumay (16 April 2017)

Dont know about the squiggly lines, but MXI has had a good 12 months and started to turn the business around after softness in the market due to droughts and some other factors. The recent announcement of extra trailers for Coles will help the bottom line too. Its a good little business and if it continues to show improved growth in earnings obviously the price will respond.


----------



## So_Cynical (17 April 2017)

I bought a few for the IB account back around JUL 2016 at 49c, good timing, still holding, a solid business with China exposure, dividends are ticking up over the last 2 and a half years.


----------



## galumay (17 April 2017)

I bought at 60c, so timing not as good! Happy to hold though.


----------



## Dona Ferentes (20 August 2020)

last Announcement was a tradig update in April


----------



## Dona Ferentes (20 August 2020)

PE 8, gearing 26%. Market Cap $60mill


----------



## barney (20 August 2020)

Dona Ferentes said:


> last Announcement was a tradig update in April




I confess I am fairly uneducated trying to read Financial Reports, but these guys seem to have found a way to eliminate costs and generate free cashflow in challenging times even though things in general aren't good and they are technically losing money?? (that may be an incorrect assessment of course)

Share price has doubled since late March lows. Don't hold and not something I would trade, but if the boys at the helm are holding the fort in difficult times; well done!


----------



## peter2 (18 November 2020)

*MXI*: Price has indeed continued to go higher since the last post. It's now at yearly highs and looking likely to continue higher. The weekly chart shows a reversal base pattern. It looks like a salad bowl, so I can call it a salad bowl pattern. 

The daily volume is quite thin and I was hoping to get it at a slightly lower price but then remembered that I can be a "dick for a tick" so I paid up (crossed the spread to 0.29) to start a spec position. Right now, I'm pleased I paid up. It's only a spec possie as the MD is so thin. The initial target is the old range at 0.50.


----------



## galumay (18 November 2020)

I will have to go and have a deeper look, I held at one time but it was a slow disaster of a business, always managing to disappoint with a new factor that caused the business to be a loss making struggle! Maybe they finally fell on some good times?


----------



## debtfree (30 May 2021)

6 months later ..... finally broken above the 0.36 level 2 weeks ago with good volume, looks like it might make that 0.50 target sooner than later. Time will tell.


----------



## peter2 (30 May 2021)

I've been looking at this one as well. The problem is the low daily traded volume. Any medium to large seller can knock the price down through many price levels. Business is suited to the current pandemic conditions.


----------



## Dona Ferentes (29 June 2021)

peter2 said:


> ... Business is suited to the current pandemic conditions.



That appear to be the case. Nudging 50c and a high for the last 12 months. Getting back to where it was early 2019, when poor results knocked it down.

If bulk goods and centralised warehousing grows (and people keep eating), the infrastructure roll out keeps up, mining continues and the national highways extend, then demand for should be there for a while for trailers and parts.


----------



## Dona Ferentes (23 July 2021)

Dona Ferentes said:


> That appear to be the case. Nudging 50c and a high for the last 12 months. Getting back to where it was early 2019, when poor results knocked it down.




and a divesting of some assets has seen the SP up some 35% to 62c. Clean up balance sheet, refocus on high margin biz.

*Sale of Trailer Solutions Business and Properties for $48m * 
Highlights 
_• MXI to divest Trailer Solutions business and Ballarat, Derrimut and Hallam properties for total sale price of $48.3m, subject to customary adjustments. 
• MXI to focus on its commercial parts distribution business and change of name to MaxiPARTS Limited. 
• Special dividend expected to be 12.5 cents per share to be paid from sale proceeds.   
• Share consolidation of 1 share for every 5. 
• Following sale and payment of expected special dividend, MXI will have positive net cash. 
• Sale expected to close at the end of August 2021, following shareholder approval.  _


----------



## aus_trader (23 July 2021)

Dona Ferentes said:


> and a divesting of some assets has seen the SP up some 35% to 62c. Clean up balance sheet, refocus on high margin biz.
> 
> *Sale of Trailer Solutions Business and Properties for $48m *
> Highlights
> ...



Nice price jump, almost looks like if a takeover bid came in on the chart. Obviously it's the 12.5c special Div that bolted the price off the gates this morning 🏇


----------



## peter2 (23 July 2021)

Selling now and taking the profit before all the corporate shenanigans.

edit: I should mention that I trade price trends not invest in companies. I have no thoughts on the future outlook of the "new" Maxiparts.


----------



## divs4ever (23 July 2021)

Dona Ferentes said:


> and a divesting of some assets has seen the SP up some 35% to 62c. Clean up balance sheet, refocus on high margin biz.
> 
> *Sale of Trailer Solutions Business and Properties for $48m *
> Highlights
> ...




 hmmm , 

 i hold LAU , KSC and SNL  , and can't quite explain why i ignored MXI   ,  but surely i am not clairvoyant  , this would have had me extremely disappointed  had i been a holder 

 change of names , ( partial change of business model ) and a consolidation  , i think i would have been rushing for the exit ( unless the special div. was franked , if so i would have done the math over the weekend first )

 good luck holders


----------



## aus_trader (23 July 2021)

peter2 said:


> Selling now and taking the profit before all the corporate shenanigans.
> 
> edit: I should mention that I trade price trends not invest in companies. I have no thoughts on the future outlook of the "new" Maxiparts.



This is when the market hands you a nice reward. I think shareholders should be very happy either way:

- To exit now and lock in the 30%+ premium offered to their shares
OR
- To hold on for a bit longer and receive the 12.5c dividend and then consider to be a shareholder of the new business or to sell out

I had a quick look and management Unanimously recommends shareholders to support the selling of the Trailer business.

Well done


----------



## divs4ever (23 July 2021)

but when i consider buying into a share  ( nearly always ) what will this company be like when i am old(er ) and frail and someone else  has to place the orders for me  .

 now time will tell whether management took the correct surgical proceedure  ,  experience in other companies  has taught me that i should alarmed and alert and very busy crunching numbers , with such changes ( see my thoughts on share consolidations  elsewhere on the site )

 now i am aware the other members have different strategies and styles and i am fine with that  , but if many businesses start with the shenigans  , soon the only investors will be predatory lenders  , and novice investors ( in the majority of the ASX  ) not a pleasant scenario for a solid business starting out


----------



## galumay (23 July 2021)

Looks like a very good outcome for shareholders, I used to be one, but the perpetual under performance of the business wore me down in the end, there were always plausible excuses, but in the end I realised its just wasn't a very good business. (got better at financial analysis!).

At least those current shareholders have the choice to either get out at a healthy return, or hang in there, and see whether cutting out the dead wood leaves a viable business behind.


----------



## divs4ever (23 July 2021)

galumay said:


> Looks like a very good outcome for shareholders, I used to be one, but the perpetual under performance of the business wore me down in the end, there were always plausible excuses, but in the end I realised its just wasn't a very good business. (got better at financial analysis!).
> 
> At least those current shareholders have the choice to either get out at a healthy return, or hang in there, and see whether cutting out the dead wood leaves a viable business behind.



 i had noticed many years  back Australia is terribly short of quality middle-management ( not particularly awash  with quality upper management either  )

 i would love to embarrass MXI ( and PAN and WSA and .. ) but the problem is much bigger than that 

 it is VERY hard to find a company with a great management team that can keep the team together ( revolving boardroom doors is another red flag to me )

 dumbass shareholders that demand board refreshes and divesity included ( that would be you , fund managers )


----------



## aus_trader (24 July 2021)

I haven't followed the company over the years but looking at it now, it doesn't look too bad.

It's making a profit each year, the valuation is modest. 

Only small concern would be a little debt on the books but interest rates are so low in the current environment there is no problem servicing it.

Perhaps the sum of the parts of the business had more value to it than what the market was valuing the whole thing at. Maybe management sold the trailer business to realise some of that hidden value and reward the shareholders as well.


----------



## divs4ever (24 July 2021)

remember debt isn't a bad thing ( although personally i avoid it where possible ) provided you have a way to reliably pay it down , and that 'reliably ' is the gotchya in a disrupted economy  , for instance power costs or taxes could rocket in the near term ,  shrinking margins


----------



## System (17 September 2021)

On September 17th, 2021, MaxiTRANS Industries Limited changed its name to MaxiPARTS Limited.


----------



## Dona Ferentes (17 September 2021)

aus_trader said:


> Perhaps the sum of the parts of the business had more value to it than what the market was valuing the whole thing at. Maybe management sold the trailer business to realise some of that hidden value and reward the shareholders as well.



becoming a more specialised or focused business. Better margins?

New CEO  Peter Loimaranta, new Head office.


> MaxiPARTS Limited (ASX:MXI) is one of the largest suppliers of truck and trailer parts to the road transport industry in Australia.


----------



## peter2 (31 October 2021)

Can happen to anyone at any time. Personally I don't think the banks do a good enough job of protecting their clients when changes of bank accounts and phone numbers are requested.


----------



## KevinBB (31 December 2021)

Living in the Roman Empire? Suffering from double vision?

Before you see the local optometrist, consider contacting asking stockbroker to buy and hold MXI for all of MMXXII.

KH


----------

