RIN - Rinker Group

[JAK]

Hi all,
Great forum with very useful information I wish I had come across it earlier.
Anyhow, I am hoping someone may be able to share their thoughts on whether Rinker will be able to make up the recent downward spiral, to levels at least over $21- over the next few mths.

With a long term view of at least 12mths+ and low risk shares, I bought 500 RIN shares through ETrade in early May 06, at an avg price of A$21-, I hesitated but the Recommendation Consensus in ETrade (about 8 very credible brokers) suggested Moderate to very Strong Buy, except 1 that said Hold.

Having read the FN Arena post, I wonder what these analysts were doing at the time, actually having researched myself since then, the indicators are as clear as mud, what to do and when.

Between my 500 QBE and 500 RIN I've come close to $4,000 in losses....

Any thoughts or reassurances in laymans terms would be most appreciated.

Many thanks, JAK

 

[imaginator]

RIN is a stock that follows the US market. I bought just 100 units of it at $21, couldn't stand it and had to let it go at $16.15.

 

[michael_selway]

RIN is a stock that follows the US market. I bought just 100 units of it at $21, couldn't stand it and had to let it go at $16.15.

Date: 4/7/2006
Author: Henry Byrne
Source: The Australian Financial Review --- Page: 19

Shares in Australian-listed construction materials group, Rinker, have lost 25 per cent of their value over the last two months. On 26 April 2006 the shares peaked at $A22.22, but they closed at $A16.59 on 3 July. The majority of Rinker's earnings come from its US business, where the housing market has weakened. This has had a direct effect on its share price as well as shares in rivals, James Hardie Industries and Florida Rock. Some analysts have welcomed the selldown on the basis that Rinker was over-valued. For the most part, investors are positive about the company's prospects, expecting it to soon announce at least one acquisition

thx

MS

 

[Julia]

Hi all,
Great forum with very useful information I wish I had come across it earlier.
Anyhow, I am hoping someone may be able to share their thoughts on whether Rinker will be able to make up the recent downward spiral, to levels at least over $21- over the next few mths.

With a long term view of at least 12mths+ and low risk shares, I bought 500 RIN shares through ETrade in early May 06, at an avg price of A$21-, I hesitated but the Recommendation Consensus in ETrade (about 8 very credible brokers) suggested Moderate to very Strong Buy, except 1 that said Hold.

Having read the FN Arena post, I wonder what these analysts were doing at the time, actually having researched myself since then, the indicators are as clear as mud, what to do and when.

Between my 500 QBE and 500 RIN I've come close to $4,000 in losses....

Any thoughts or reassurances in laymans terms would be most appreciated.

Many thanks, JAK

Hello JAK

I also hold both QBE and RIN. I'd also categorise myself as the same sort of investor as you.

I have no concerns about continuing to hold both these stocks at present.

They are both very well managed companies.

Julia

 

[JAK]

Thanks guys, much appreciated, my thought process has been to hold....since I did go into it long term....

All the best to all, JAK

 

[GreatPig]

I also hold both QBE and RIN.

So do I, but I'm watching them both closely.

They're both getting close to my sell level.

Cheers,
GP

 

[michael_selway]

So do I, but I'm watching them both closely.

They're both getting close to my sell level.

Cheers,
GP

Its funny cause this was one of the stocks that was breaking out and peopel were buying at 20+, but i said it was overvalued (forecast growth was slowing alot % wise, less tan 10% pa) etc, now its back to fair value.

Bascially the run up made people think it was going to repeat its past performance, of 60% growth last year on previous.

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 106.7 132.5 141.9 149.4
DPS 78.0 45.6 48.4 51.6

EPS(c) PE Growth
Year Ending 30-03-07 132.5 12.2 24.2%
Year Ending 30-03-08 141.9 11.4 7.1%

CSR is another that rings a bell, actually many that "Noirua" likes conincidently, not too sure why

thx

MS

 

[JAK]

So do I, but I'm watching them both closely.

They're both getting close to my sell level.

Cheers,
GP

GP, what do you mean close to your sell level, are you saying sell and cut your losses, or sell and buy to break even later ?
I am assuming you have bought high .....

An amateur investor trying to understand, thanks, JAK

 

[GreatPig]

Jak,

This is purely a personal thing.

I bought recently at $16.88 on the hope that RIN was turning back up, and have put a sell level at about $16.60 to $16.65, if it closes below that price.

I've chosen that sell level as it's just below the two recent lows in June, and also matches a support level back in January. To me, a close below that would indicate a higher probability of further drops rather than a turn back up.

But as I say, just my opinion and how I've decided to trade this particular stock on this occasion.

And the price is getting very close to that level right now.

Cheers,
GP

 

[noirua]

CSR is another that rings a bell, actually many that "Noirua" likes conincidently, not too sure why

thx

MS[/QUOTE]

CSR are well down on their high, although todays confirmation of a 5% buy-back of shares should help the stock price come back.
RIN have proved fairly disastrous of late and may have to wait for the Fed to reverse the present upward trend in interest rates. Still hopefull they will surprise once again when their first quarterly is revealed.

 

[scsl]

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=6057B9B3-17A4-1130-F56645E84E912E57

this FNArena article talks of emerging value in RIN stock, after being heavily sold off in the recent correction.

important upcoming dates:

jul 18: release of 1st quarter trading update
jul 19: ex-div for $0.50 return of capital
aug 11: profit announcement??

please check all info.

 

[noirua]

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=6057B9B3-17A4-1130-F56645E84E912E57

this FNArena article talks of emerging value in RIN stock, after being heavily sold off in the recent correction.

important upcoming dates:

jul 18: release of 1st quarter trading update
jul 19: ex-div for $0.50 return of capital
aug 11: profit announcement??

please check all info.

Yes, I quite like this post, having held on and getting the " told you so " feeling. FNArena, god bless 'em, are doing their best, but the downward trend looks quite strong. The run-up from March 2003 at $5.00 has been a consistant and solid one, the present fall has knocked this trend for six and the chart looks for a new trend.

 

[BlackTie]

Looks like RIN just break out from a descending triangle.... target price $14.15..

 

[scsl]

Jak,

This is purely a personal thing.

I bought recently at $16.88 on the hope that RIN was turning back up, and have put a sell level at about $16.60 to $16.65, if it closes below that price.

I've chosen that sell level as it's just below the two recent lows in June, and also matches a support level back in January. To me, a close below that would indicate a higher probability of further drops rather than a turn back up.

But as I say, just my opinion and how I've decided to trade this particular stock on this occasion.

And the price is getting very close to that level right now.

Cheers,
GP

GP, did you sell your RIN stock today?

...assuming the current price of $15.30, RIN has fallen about 5.3% in 4 trading days! are there any others who think that RIN has further to fall?

i bought at 15.66, 15.75, 16.81 (during the correction) and am starting to get worried. i know that in the long run RIN should perform very well but am just concerned about the next few days...

 

[GreatPig]

Yes, I did.

(there was a typo in my previous message though - the stop was around $15.60, not $16.60).

Cheers,
GP

 

[noirua]

Rinker continue under pressure in the U.S. as markets slide on inflation fears as oil approaches US$77 per barrel. At US$57.01 at the close RIN have hit a new bearish signal with a sentiment score of 32.

 

[noirua]

Trading update for the Year ending 30th June 06 will be out next Tuesday 18th July 06.

 

[BlackTie]

Today the trading volumn is high... a clear breakout from a descending triangle... anyone expecting there will be good news on Tues announcement?

 

[scsl]

according to Intersuisse, RIN is wayyyyy too cheap!

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=662F6E69-17A4-1130-F5520FC4A23C61E1

RIN fell 9.1% this week, with everyone selling because of fears that lower-than-expected earnings and slowing growth in the US will mean the same for RIN. RIN may turn out to be massively oversold once this correction is over...

 

[michael_selway]

according to Intersuisse, RIN is wayyyyy too cheap!

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=662F6E69-17A4-1130-F5520FC4A23C61E1

RIN fell 9.1% this week, with everyone selling because of fears that lower-than-expected earnings and slowing growth in the US will mean the same for RIN. RIN may turn out to be massively oversold once this correction is over...

Do you hodl RIN?

thx

MS